2020 FISCAL STRATEGY REPORT PRESS BRIEFING
REMARKS BY SENATOR J. KWASI THOMPSON
MINISTER OF STATE FOR FINANCE
ON MONDAY DECEMBER 21, 2020
Good afternoon to members of the press, colleagues and the listening audience.
Last week, the Government tabled the 2020 Fiscal Strategy Report (2020 FSR) in the House of Assembly. Our press conference today is an opportunity to create a deeper understanding of the Government’s plan to restore the nation’s fiscal health and to build economic resilience beyond the coronavirus pandemic.
The Government is closely monitoring the positive domestic and global developments on the public health and economic fronts. We remain confident that we are seeing light at the end of the tunnel. However, the pandemic is still very unpredictable. Our success is still dependent on our collective behaviour and discipline, so every Bahamian and resident should keep this in mind as they go about their private lives this holiday season. Please, I impl
Minister of State in the Ministry of Finance, Senator the Hon. J. Kwasi Thompson provided an overview of the Government’s 2020 Fiscal Strategy Report on Wednesday, December 16, 2020 in the Senate, which the public can review in detail on the official budget website: www.bahamasbudget.gov.bs. (BIS Photo/Ulric Woodside)
Nassau, The Bahamas - Senator J. Kwasi Thompson, Minister of State for Finance explained that the Government will continue to reduce the economic effects of COVID-19, by providing initiatives targeted at public health and safety, job protection and social and economic support for households and businesses.
“The levels of direct support required by the government to save lives and support commercial and economic activity to the end of October has been unprecedented. The Government has kept its promise that this unprecedented crisis would be met with an unprecedented response,” Sen. Thompson said as he presented the Fiscal Strategy Report (FSR) in th
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PLP DEPUTY Leader Chester Cooper yesterday accused the government of having no strategy for economic growth nor had put forward any plan for restoration in Abaco, Grand Bahama and Ragged Island.
Mr Cooper’s remarks were in response to the Minnis administration’s 2020 Fiscal Strategy Report tabled in Parliament on Wednesday.
Speaking about that report, newly appointed Minister of State for Finance Senator Kwasi Thompson told the Senate the government’s aim is to slash $100m from both its capital and recurrent spending after 2020-2021 first quarter revenues came in $68m below projections while spending soared.
Senator Thompson said some $75.8m in unplanned COVID-19 public assistance and previous lockdowns have forced the government to target $200m in extra spending cuts over the next six months.
Bahamas Government’s Annual Fiscal Strategy Report Released By Staff1 / in Home, In The News: / on Thursday, 17 Dec 2020 03:50 AM / Comments Off on Bahamas Government’s Annual Fiscal Strategy Report Released / 2580
Minister of State in the Ministry of Finance, Senator the Hon. J. Kwasi Thompson provided an overview of the Government’s 2020 Fiscal Strategy Report on Wednesday, December 16, 2020 in the Senate, which the public can review in detail on the official budget website: www.bahamasbudget.gov.bs. (BIS Photo/Ulric Woodside)
On Wednesday, December 16th, 2020, Prime Minister and Minister of Finance the Most Hon. Dr. Hubert A. Minnis tabled in the Lower House, the Government’s 2020 Fiscal Strategy Report (or FSR).