By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

The Prime Minister yesterday challenged Michael Pintard, the Opposition’s leader, to state if he believes the economy has recovered from COVID-19 during a politically-charged end to the mid-year Budget debate.

“Do you accept that the economy has recovered?” Philip Dabis KC asked, to which Mr Pintard admitted that it has, yet highlighted that The Bahamas’ gross domestic product (GDP) growth rate has slipped from 14 percent following the post-pandemic re-opening back towards this nation’s historical average of a projected 1.7 percent for 2025.

“Any economy that has been closed during COVID, once those economies re-open, there is a naturally-expected recovery in industry. When the economy re-opened, it re-opened with a 14 percent, then 10 percent economic growth rate. And then it returned to pre pandemic numbers,” said Mr Pintard.

“So to answer the Prime Minister, yes, once an economy reopens, you expect an increase, but we have now gone back, according to the Prime Minister’s number to 1.7 percent expected growth rate. So we’re going to hover over this year, next year, between 1.7 percent according to his numbers, and possibly 1.1 percent. If that satisfies you, despite what our people are feeling, carry on.”

Mr Davis questioned if he accepted that The Bahamas has attracted investment, has record low unemployment and placed fiscal spending under control. He said the Opposition will “never accept” the growth in the economy and noted that vehicle traffic has increased significantly.

“So the economy has recovered. He accepts. Now, would you accept that we have attracted investment? Would you accept that unemployment has fallen to the lowest level in 20 years? Would you accept that? Would you accept on the record that spending is under control? Would you accept that our revenue has not collapsed,” said Mr Davis.

“The question for the Bahamian people really is this. Do we believe the reality we can see, the progress we can feel and the opportunities that are growing every day, or do we accept the fiction that the Opposition is so desperately wanting us to believe? But I’ll tell you one thing, try to leave downtown and get to Cable Beach. See how long that will take you today at any hour of the day.

“They never accept that the economy is growing but the Bahamian people feel that. They now complaining about the traffic on the road. We gonna have to address that soon, too. But traffic on the road because there’s activities, things are happening.”

Mr Pintard accused Mr Davis of “shadow boxing”, and argued that traffic in Nassau has been congested for decades, prompting the former Ingraham administration to undertake extensive roadworks. He said the traffic congestion “does not prove the case of any economic bonanza for this Prime Minister”.

Mr Davis said his administration is not asking for “blind faith” or applause, and reaffirmed his “unshakable confidence” in the Bahamian economy.

“This government, we don’t ask for blind faith. We’re not asking anyone to have blind faith. We only ask that the facts be recognised and acknowledged; that numbers, for example, be acknowledged and that the progress be seen for what it is: Proof that when a government puts the people first, when it makes smart, strategic choices, The Bahamas succeeds and we will continue to do,” said Mr Davis

“This administration, we’re not looking for applause. We’re not here to pat ourselves on the back, nor are we content to rest on our achievements or our laurels. We are here to reaffirm our confidence, our absolute, unshakable confidence in the Bahamian economy and the people who drive it forward.”

As Mr Davis concluded his contribution, Mr Pintard questioned if he would accept that he busted his 2023-2024 budget, a question asked by the Opposition during Parliament last week.

“The member for Cat Island had indicated, prior to the wrap-up, that he intended to answer the question relative to whether or not he accepted that he had busted the Budget, and again, to address the deficit question,” said Mr Pintard. Mr Davis responded: “No, not today. Next week.”