The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

FORMER State Minister for Finance Kwasi Thompson said the former Minnis administration’s fiscal strategy is bearing fruit, citing a recent report that found that revenue performance surpassed $550 million in the first quarter of the fiscal year 2021/2022.

In a statement issued yesterday, he said the Free National Movement is pleased at the revenue performance of $572.8 million as reported in the First Quarter (Q1) Fiscal Report for FY 2021/22.

 He said the report details the last three months of the FNM’s term in office.

 “Not only does the outturn substantially beat revenue projections for the first quarter by over $90 million, it comes in even higher than the $552.7 million revenue total reported in the corresponding first quarter before the onset of the pandemic - the period of July to September 2019,” Mr Thompson said.

 The former minister of state for Grand Bahama further explained that the First Quarter Fiscal Report shows the government earned more revenue than projected, spent less than projected, decreased the deficit and borrowed less.

 “Clearly and unambiguously, the FNM’s Accelerated Bahamas plan has been working so well, that even emerging from the pandemic, the government’s revenue figures are higher for the first quarter of this fiscal year, than they were in 2019/20 before the devastating economic effects of the pandemic,” said Mr Thompson.

 “The economic and fiscal plan left in place by the FNM administration was and is working,” he stated.

 “We see the abundant newspaper ads advertising new job openings. We hear the DPM bragging about the robust tourism numbers and forecasts. We see the Ministry of Finance reporting revenue numbers that are beating projections and that are even better than pre-COVID levels. We are pleased to have been the ones to put in place the plan that is beating all expectations,” said the MP for East Grand Bahama.

 He said the PLP government should continue with the plan left in place.

 “Bahamians are rightly questioning, why change the plan at this juncture? Despite their pronouncements, we remind the government that it is not too late to admit that our plan was and is working and to stay the course. We admonish them to do so,” Mr Thompson said.