As the government contends with what he described as the biggest “fiscal setback in the last 100 years”, Deputy Prime Minister and Minister of Finance Peter Turnquest yesterday announced the Minnis administration’s intention to borrow $1.3 billion in the 2020/2021 fiscal year.
During a two-hour-long budget communication in
Prime Minister Dr. Hubert Minnis yesterday tabled a resolution to extend the state of emergency to June 29.
The state of emergency was set to expire at the end of May.
While addressing the House of Assembly, Minnis said, “Tomorrow, we are going to debate this resolution. We will have
Progressive Liberal Party (PLP) Deputy Leader Chester Cooper charged yesterday that the precarious fiscal situation facing The Bahamas has less to do with Hurricane Dorian and COVID-19, but “represents the cumulative impact of a series of bad fiscal decisions over the past three previous budgets”.
The government has reduced the budget allocations of 42 ministries and departments to contend with the “monstrous” impact of Hurricane Dorian, which leveled Grand Bahama and Abaco last September, and COVID-19, the worldwide pandemic that has brought the Bahamian economy to a near standstill.
Minister of Finance Peter Turnquest yesterday announced a number of measures to reduce government expenditure given the projected decrease in revenue as a result of the COVID-19 pandemic.
Turnquest said priority was given to spending related to COVID-19 and Hurricane Dorian recovery, as well as initiatives
The government is seeking approval to borrow $80 million to progress solarization on the Family Islands in the upcoming fiscal year, Deputy Prime Minister and Minister of Finance Peter Turnquest revealed yesterday.
“Mr. Speaker, an essential pillar to our transformational socio-economic agenda is to achieve and
Deputy Prime Minister and Minister of Finance Peter Turnquest announced yesterday the government will invest in food security in the upcoming budget year, with a view to decrease the country’s dependence on food imports and stimulate the agriculture industry.
“I can assert today that this government
An early morning shooting in eastern New Providence left a man dead and a woman hospitalized in unknown condition, police said yesterday.
The two were driving on Lumumba Lane around 9 a.m., when a black car approached and someone opened fire.
Police said the woman was able
A magistrate on Wednesday granted an absolute discharge to a man arrested outside his home during the curfew.
Remington Marshall admitted the offense when he appeared before Deputy Chief Magistrate Andrew Forbes.
Police arrested him outside his home around 10:30 p.m. on May 20 on Moonshine Drive
A man who said he bought a gun after he was robbed three times in a month has been sentenced to three and a half years in prison.
Police arrested Elvin Taylor, 27, of Windsor Lane, on May 25 after they found him with a 9mm