Public Purse Subsidies Soar By $65 Million – The Bahamas

• According to the report on budgetary performance for the fiscal year 2018/2019: "Subsidies to public non-financial corporations expanded by $38.2m (12.3%) to $348.2Mn, vis-à-vis FY2017/18. Of this total, approximately $230.2Mn (66.1%) was allocated to the Public Hospital Authority (PHA).
• The report also said transfers to the University of The Bahamas and the Bahamas Technical and Vocational Institute grew by $5.8Mn and $3.1Mn, respectively, likely owing to the Minnis administration's free tuition and financial coverage policy. 
• "Subsidies to the national airline carrier and the water and sewerage utility company were marginally increased by $0.2Mn and $1.0Mn, respectively, whereas transfers to the National Health Insurance Scheme were relatively stable at $14.9Mn," said the report.
• The report also noted: "Subsidies to private non-financial enterprises were higher at $42.0Mn from $13.5Mn in the previous fiscal year, largely owing to arrears settlements with cruise line operators, of $21.6Mn, and the $5.5Mn spend for small business development as a part of the Government's $25Mn five-year commitment to support small businesses.

(Source: Tribune 242)