Finance Minister Peter Turnquest.
By EARYEL BOWLEG
ebowleg@tribunemedia.net
FINANCE Minister Peter Turnquest suggested that the economic loss from the COVID-19 pandemic is likely to be as great or greater than Hurricane Dorian’s impact.
While a guest on a ZNS broadcast yesterday, the minister was asked whether the Category 5 storm or the pandemic has presented the greatest challenge. Perplexed by the question, he replied it was difficult to choose between the two as they have “brought tremendous hardship” to Bahamians.
“The hurricanes came and destroyed people’s lives as well as property and the process of re-building from basically scratch in a place like Abaco has been painstakingly slow and costly and difficult. The cost of that was over $3.4 billion in economic loss. This pandemic is like a hurricane that hits the entire Bahamas without knocking down one building. The economic loss from this is likely to be as big and probably much higher than that.
“And so again both present some very significant challenges for us and really from my view I can’t really pick which one is worse because in as much as those persons in Abaco have lost their homes in addition to suffering the economic loss those persons in the rest of the islands, Nassau, Grand Bahama, and the rest are suffering the kind of effects that you would experience after a hurricane minus not having your home destroyed.”
According to the minister, an increased allocation of $4 million was extended to the Department of Social Services to help at-risk people during the COVID-19 economic fallout. However, Mr Turnquest noted there are some people who have ran out of these benefits as there is a limit the department can give. As these individuals are of concern, he revealed they are trying to design something but hope the end of the crisis is soon rather than later.
Comments
ISpeakFacts 4 years, 6 months ago
The hurricanes came and destroyed people’s lives as well as property and the process of re-building from basically scratch in a place like Abaco has been painstakingly slow and costly and difficult.
I wonder if these buffoons in office remember that hurricane season begins next month, meanwhile majority of Abaco is still without water and power along with the 70 bodies that have been in the trailer behind the Marsh Harbour clinic for the past 8 months. Then you have Grand Bahama thats using tents as hospitals etc
Heaven forbid a Dorian type hurricane were to hit New Providence, thousands will be dead and unaccounted for but I'm sure Minnis and his cronies will do their best to hide the true number of deaths, like they did with Dorian, and what they're currently doing with Covid-19!!!
Islangal1 4 years, 6 months ago
Man, these people UNREAL!!
Hoda 4 years, 6 months ago
Did you volunteer to repair homes, remove debris, or fund them?
DDK 4 years, 6 months ago
The eejits have allowed the gaming houses to reopen before the economy even moves into first gear. There is no real hope for our Bahamaland. It has been destroyed by greed, by ignorance and by far too many fools in leadership positions......
Hoda 4 years, 6 months ago
Well gaming houses are employers. Why does it matter if gaming houses are open, are you suggesting that our citizens are addicts, incapable of Not playing Numbers, or unreasonable people who will spend money on gambling when it should be saved or put towards something else....
DDK 4 years, 6 months ago
Quite right, ISpeakFacts, many hundreds have been without power, water, medical attention, garbage collection, roof over head, salary and yes, even burials, for eight months and counting. What the hell kind of Government did we elect this time?
SandyE 4 years, 6 months ago
We'll never know if the virus arrived in the Bahamas from the US or Canada or the Carib somewhere. We know it originated in China. Any Chinese doing business in the Bahamas ???
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