PRIME Minister Dr. Terrance Drew has confirmed that the Government has been operating in the red when it comes to its budget, and there has been a dependency on the revenues from the Citizenship by Investment Programme to function.
Over the last several years, the Team Unity Administration, including the Minister of Finance, repeatedly disclosed that the country has been operating with a surplus, while noting that it has been “fiscally prudent” with its spending. That has resulted in a number of “double salary” being paid to public servants.
Now, Prime Minister Drew is suggesting that the finances might not have been as rosy as the pictures painted by the former administration.
While making an appearance on Freedom FM’s ‘Issues Programme’, Dr. Drew reminded that his administration took over a country that was in a budget deficit, stating “it means that more is going out than was coming in”.