May 31, 2019
Deputy Prime Minister Peter Turnquest.
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INSIGHT: When there is no other choice, you play the hand you have
THE Bahamas is one of the most beautiful places on earth – charismatic people, pink sands and crystal blue waters - and attracts millions of tourists a year. Our natural beauty also enables citizens in the private sector to earn an income and put food in their families’ mouths. When a global pandemic snatches all of that away, we have seen that our gift is also our curse in some respects.
DPM indicates Gov't will continue COVID support
The deputy prime minister yesterday indicated the Government's COVID-19 support initiatives will likely extend beyond their end-September expiry given the delayed re-openings of many major hotels.
'Too early' to decide new/increased taxes
The deputy prime minister has reiterated that “it’s too early” to determine if new and/or increased taxes will be needed for The Bahamas to escape the fiscal hole created by COVID-19 and Hurricane Dorian.K Peter Turnquest, pictured, in a recent inter
Govt seeking debt payment delay - and $250m IMF loan
The Government is seeking "breathing room" by deferring debt repayments coming due, it can be revealed, as it last night confirmed it has applied for a $252m "emergency" International Monetary Fund (IMF) loan.
Dorian bill leaves no option to borrowing
FINANCE Minister K Peter Turnquest defended government’s intention to borrow $637.9m post Hurricane Dorian, insisting the Minnis administration had the “appropriate response” to rebuilding the affected islands and revitalising the economy.
Turnquest: We are getting there
DEPUTY Prime Minister Peter Turnquest said yesterday the government has received positive feedback from utility companies in Grand Bahama concerning the restoration process on the storm impacted island.Ever since Hurricane Dorian made landfall on the
Turnquest: We are working feverishly to restore GB power
DEPUTY Prime Minister Peter Turnquest said yesterday the government is “working feverishly” to have power quickly restored to the eastern part of Grand Bahama, which was devastated by Hurricane Dorian early last September.The community has not had el
Ballooning deficit means govt needs to borrow $507m
THE deficit for the fiscal year has ballooned to $677.5 million because of Hurricane Dorian, prompting the government’s plans to borrow $507.9 million to meet the shortfall. Deputy Prime Minister and Minister of Finance Peter Turnquest said in the Ho
Colombian CIBC sale goes ahead
The deputy prime minister has voiced optimism that CIBC’s sale of majority control in its Bahamian and regional affiliate will be “positive” given the buyer’s reputation for innovation.
Turnquest defends new customs system after user complaints
DEPUTY Prime Minister Peter Turnquest has defended the new Click2Clear system after a series of complaints by users. People had criticised the Customs system for not being user friendly or functioning efficiently. On Monday, scores of customers were
Families accused of hoarding aid
DEPUTY Prime Minister Peter Turnquest is concerned about people in Grand Bahama hoarding relief supplies such as power generators.
Dorian's $436m fiscal blow needs 'tight' rein
The government was last night urged to keep a “tight” rein on post-Dorian recovery after the storm blew an estimated $436m hole in its fiscal deficit target for 2019-2020.Robert Myers, the Organisation for Responsible Governance’s (ORG) principal, to
Turnquest laments closure of Deep Water Cay
THE closure of the country’s oldest bonefishing lodge will have “significant” economic impact on communities in East Grand Bahama, according to the minister of finance. K Peter Turnquest, deputy prime minister and also member of Parliament for East G
Govt in $200m Dorian shortfall
The government likely faces a $200m revenue shortfall as a result of Hurricane Dorian’s devastation, the deputy prime minister revealed yesterday.KP Turnquest said the category five storm had inflicted a “not insignificant loss to the economy” given
Turnquest proclaims lowest deficit level in a decade
FINANCE Minister K Peter Turnquest yesterday touted that “for the first time in a long time” the government has met its deficit target, having recorded a deficit of $222.4m for fiscal year 2018/2019.According to the Ministry of Finance the deficit is
Clouds on the horizon but Turnquest insists: we're on the right track
GOVERNMENT must continue to stay the course in the management of this nation’s fiscal affairs, according to Finance Minister K Peter Turnquest who insists: “We are making tremendous progress”.In an interview with Tribune Business Mr Turnquest said:
Customs portal allows boating fee payments
THE Customs Department’s new digital system will allow pleasure craft to apply for cruising and fishing permits, the deputy prime minister said yesterday. Announcing the launch of the registration campaign for Customs’ Electronic Single Window (ESW
Turnquest predicts better news on jobs
FINANCE Minister Peter Turnquest yesterday conceded the latest national unemployment rate is still high, but said the government is relying on several factors to reduce joblessness. Both he and Labour Minister Dion Foulkes expressed optimism that th
At 9.5%, jobless total at lowest level for 10 years, says Turnquest
FINANCE Minister Peter Turnquest said while the government is pleased the national unemployment rate has dropped to 9.5 percent, its goal is to drive numbers even lower by securing stronger and more broad based growth for the economy. The ministry s
Turnquest: We need to find better ways to resolve conflicts
DEPUTY Prime Minister Peter Turnquest said while the country remains plagued by “unacceptable” levels of crime and violence, people need to find better ways to resolve conflicts. He said although major crime categories have been trending downward, a
BAAA open nationals provides economic boost in GB
THE Bahamas Association of Athletic Associations’ hosting of the National Open Track and Field Championships in Grand Bahama was a great economic boost to the island, but Deputy Prime Minister Peter Turnquest is hoping that from a national perspectiv
BISX listing part of 'more rigorous' debt oversight
Listing $3bn in bonds on the Bahamas International Securities Exchange (BISX) links directly to plans for “more structure and rigour” in managing government debt, it was revealed yesterday.K Peter Turnquest, deputy prime minister, told Tribune Busin
DPM: OECD tax review 'pointless, will be deferred'
The deputy prime minister yesterday said a planned OECD review of The Bahamas is “pointless” and “will be deferred” because this nation has yet to enter any income tax treaties. KP Turnquest told Tribune Business that the government was in the proce
Multi-billion pension deficit 'high priority, not top' for govt
The deputy prime minister says resolving the government’s own looming multi-billion dollar pension crisis “is certainly a high priority but not top of the list”.KP Turnquest, in a recent interview with Tribune Business, said the Minnis administration
DPM: Something must be done over pensions
The Bahamas’ retirement funding crisis must be given “focus”, the deputy prime minister agreed yesterday, given the ever-increasing drain it threatens to impose on the nation’s resources.KP Turnquest, responding after the Central Bank’s latest privat
'Enforcing building codes helps counter climate change'
DEPUTY Prime Minster K Peter Turnquest yesterday said maintaining and enforcing building codes is a key way the government is attempting to mitigate the effects of climate change. Speaking on the sidelines of the CFAL Budget Pass held at the Baha Ma
DPM: Middle class fear over IMF’s income tax
The deputy prime minister yesterday warned that following the IMF’s income tax call would likely result in “a significantly higher tax burden” for middle class Bahamians.
Turnquest confirms $39m debt related to BTC pension
WHILE the government boasts of having slashed arrears payments considerably over the last 10 months, one debt owed has yet to be satisfied at all.
‘Nowhere near out of the fiscal woods’
The Bahamas is “nowhere near out of the woods” with its fiscal woes, the deputy prime minister admitted yesterday, with the government still confronting several “ticking timebombs”.
Comments
bogart 5 years, 6 months ago
MARCH 23 2018 .......IMF......SAYING ECONOMY JUS TURNING DA CORMED.....EXPECTING NEW BAHAMAR Onstream...AN STRONG US ECONOMY.....JULY 1, 2018 ADDITIONAL VAT 4.5 %.ADDED .......sooooooooooooooop.......one year later..MAY 2019,.......where "Nowhere near out of the fiscal woods"....corner an in da woods seems like people lost in da woods.......
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