NASSAU, Bahamas — The government yesterday tabled its much-touted Fiscal Responsibility Bill 2018, the instrument it hopes will drive down deficits to meet its stated target of 50 percent debt-to-GDP over the long term.
The government is supposed to identify this target in the Fiscal Strategy Report included in each annual budget after the law comes into force.
The Fiscal Strategy Report, to be debated no later than January 31 each year, is supposed to inform the creation of the budget.
The legislation, which was circulated for public feedback in May, has hard targets for government deficits over the next three years to try achieve the massive reduction in debt and deficits. https://thenassauguardian.com/2018/09/20/govt-tables-fiscal-responsibility-bill/
