May 31, 2019
Deputy Prime Minister Peter Turnquest.
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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
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.
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.
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
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
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
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.
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
DEPUTY Prime Minister Peter Turnquest is concerned about people in Grand Bahama hoarding relief supplies such as power generators.
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
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
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
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
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:
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
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
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
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
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
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
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
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
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
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
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.
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.
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”.