NASSAU, BAHAMAS — Deputy Prime Minister and Minister of Finance K Peter Turnquest yesterday assured that the integrity of the public treasury remains “intact” amid the Opposition’s request to examine it.
In a statement released yesterday afternoon Turnquest said, “I note the request submitted yesterday by the shadow Minister of Finance I. Chester Cooper, requesting to “examine the state of the Treasury”. The Shadow Minister would be aware that the Government’s latest budget update is due to be released in a matter of days, in keeping with the practice of quarterly performance reporting initiated by this Government two years ago. We have never been late with a report and notwithstanding the unprecedented national crisis, we do not intend to be late this time.”
According to Turnquest the The Ministry of Finance will release the FY2019/2020 fourth quarter budget update on schedule on Sunday, August 30.
“Further, in keeping with the Prime Minister’s announcement about upcoming ministry updates, the Ministry of Finance will hold a press conference on the country’s fiscal affairs on Wednesday, September 2, 2020, where detailed updates will be provided. Separately, I have always made myself available to the Shadow Minister to address any questions he may have. As always, he can reach out to me on any serious or substantive matters. This Administration has set and continues to follow a prescribed fiscal plan, which is allowing the Government to meet its ongoing core financial obligations,” said Turnquest.
He added, “The integrity of the public treasury remains intact. As foreshadowed during the budget exercise this past May and June, the budgetary performance early in the new fiscal year reflects the prevailing reality in the broader economy. Revenue receipts are muted, and discretionary spending has been constrained. The priorities of the Government remain to provide funding for critical government services and social support.”
Progressive Liberal Party (PLP) Deputy Leader and Shadow Finance Minister Chester Cooper said in a statement yesterday that he has requested a review the state of the public treasury and all loan documents signed by the government this year.
The Exuma and Ragged Island MP said that he has written to the chairman of the Treasury Committee of Parliament for a meeting to examine the state of the treasury- which is mandated.
