Tancoo to Imbert: Come clean on state of economy

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Tancoo to Imbert: Come clean on state of economy

Finance spokesman for the United National Congress, MP Dave Tancoo is demanding that Minister of Finance Colm Imbert provide full disclosure to the population with regard to the collapse in the country’s revenue by over 5 billion dollars and how this now affects the economic health of the country.

Tancoo said in documents that he has seen, there has been a major collapse of government revenue for the current fiscal year 2024.

The Oropouche West MP stated, “This has significant impact on the level of borrowing to finance government expenditure as the government will now have to finance an expected 100 percent hike in the budget deficit. This is grave cause for concern and amazingly the Minister has not made a single statement to the public on the issue. There has not been a tweet from Minister Imbert about this significant development.”

Tancoo pointed out that, “After nine years of State corruption, simultaneous over taxing of the population and underfunding the growth and development of our country, the truth of Imbert’s incompetence is now being revealed for all to see. I call on the Minister to stop his arrogant distractions and come clean with the population; tell us the true state of our economy.”

The Opposition MP said “For the last 9 years the UNC has been telling the population that Imbert has crashed the economy. We have lost billions in foreign direct investment and thousands of small startups and SMEs have closed down as a result of the failure of the government to create an attractive investment climate. Imbert has blamed international events and Kamla, but while the rest of the world is registering a resurgence of economic growth following COVID-19, Imbert’s mismanagement has decimated whatever economic and natural resource advantages we once held as an investment destination. When he presents the Mid-year review on Friday, citizens demand that Imbert tells the whole truth about the crisis he has brought upon our national economy.”