{"id":46897,"date":"2014-01-20T09:08:54","date_gmt":"2014-01-20T14:08:54","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/target\/sp-queries-importance-of-new-capital-works"},"modified":"2014-01-20T09:08:54","modified_gmt":"2014-01-20T14:08:54","slug":"sp-queries-importance-of-new-capital-works","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2014\/01\/sp-queries-importance-of-new-capital-works","title":{"rendered":"S&P Queries \u2018Importance\u2019 of New Capital Works"},"content":{"rendered":"

\"S&P<\/p>\n

\n

A Wall Street credit agency has commended the government\u2019s decision to seek private involvement in the financing of major\u2008public works projects, but has suggested that its final judgment on the wisdom of the decision to undertake capital works in 2014 will depend on whether the works are \u201cimportant for the economy overall\u201d.<\/p>\n

Dr. Lisa Schineller, lead analyst for The Bahamas with Standard and Poor\u2019s, said that with \u201cchallenges continuing to weigh on the fiscal side\u201d for The Bahamas, a \u201cclear question\u201d with respect to the decision to undertake \u201cmajor\u201d capital expenditure this year will be what the government chooses to spend money on.<\/p>\n

Addressing the Bahamas Business Outlook on Monday, Christie said that the government will undertake capital works this year with a view to stimulating the economy.\u00a0 This comes in a context in which the government is also seeking to reduce spending overall as it moves to cut back on the deficit.\u00a0 Christie also stated that the government is looking to enter into public-private partnerships (PPPs) which would see the private sector \u201cput up capital\u201d for the infrastructure works.<\/p>\n

His announcement comes as the government\u2019s expenditure on capital projects dipped significantly in 2013, as several major publicly-funded projects came to completion, and no new projects were launched.\u00a0 In the first quarter of the 2013\/2014 fiscal year, capital spending fell by 51.5 percent to $30.2 million, compared with a more than doubling to $62.3 million in the same quarter the previous year.<\/p>\n

Commenting on Christie\u2019s statements, Schineller told Guardian Business: \u201cWe don\u2019t have a booming growth outlook, we are expecting growth of around two percent of GDP this year, and with all the changes continuing to weigh on the fiscal side, the clear question is whether the public works projects are important for the economy overall.<\/p>\n

Click here to read\u00a0Alison Lowe’s complete article at www.thenassauguardian.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A Wall Street credit agency has questioned the wisdom of government\u2019s decision to undertake capital works in 2014, asking if the works are \u201cimportant for the economy overall\u201d.<\/p>\n","protected":false},"author":17,"featured_media":47008,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[153,24,98,40,142,60],"class_list":["post-46897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business-2","tag-construction","tag-financial","tag-government","tag-incompetence","tag-plp"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/46897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=46897"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/46897\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media\/47008"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=46897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=46897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=46897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}