NASSAU, BAHAMAS — The Opposition is accusing the Davis administration of “cherry picking” over the International Monetary Fund’s (IMF) latest assessment while demanding that the government releases the overdue monthly and quarterly budget reports as required by law.
Opposition leader Michael Pintard noted that the August, September, and October monthly reports are now late in a statement.
“We still don’t have the fourth quarter report for the past fiscal year that ended in June – some five months ago,” Pintard said.
“We still do not have the first quarter report from July to September. Either the Minister of Finance lacks the management ability to ensure the reports are completed by their legal deadlines, or the Minister of Finance is keeping the reports from the public on purpose. Either explanation is unacceptable. We also would want Minister Halkitis to instead use his time and energies to get the legally mandated Fiscal Responsibility Council properly constituted and ensure that it delivers its six tardy reports to the Bahamian people.”
He continued: “We also find it curious and revealing that Minister Halkitis and the Davis Administration would happily embrace the IMF’s new projection of larger economic growth next year, but then try to trash the budget-busting projection done by the very same IMF. If the Minister is telling the Bahamian people to ignore the forecasted spike in the budget deficit, should we also ignore the forecast of improved economic performance?
“The PLP wants to cherry-pick the good news and stick their heads in the sand on the bad news.”
The IMF revised the country’s growth forecast from 1.8 percent to 2.3 percent in 2024. Pintard argued that Standard & Poor’s and the IMF have now both projected that the government will overrun the planned budget deficit by 300 percent or more.
“So with that admonishment, we will not accept the PLP ‘sad story’ come mid-term budget report or during the budget debate when they feign surprise that the budgetary targets will not be met and come to seek remedial measures,” said Pintard.
“The responsible thing would be for the PLP government to come to Parliament immediately with a well-thought-out revised budgetary plan to curtail their wasteful spending and set new priorities that boost the welfare of ordinary Bahamians. Any other course of action is irresponsible.”
Loading ...
