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  • 5 months ago
Economist Dr. Roger Hosein says, the Auditor General does not need to have access to Central Bank's accounts to show that the economy is in a terrible state. He was speaking on TV6's Morning Edition.

Transcript
00:00Economist Dr. Roger Hossein is of the opinion that regardless of what the Auditor General
00:06discovers, if and when she accesses the central bank's accounts, the result will be the same.
00:13I think it's just a matter of moving the needle, just a few decimal points. I don't think it's
00:17because the economy is in a terrible position. Regardless of the block of information that
00:23is available, it's sufficient to make it clear that this economy is in a terrible position.
00:30Given the state of the economy, Hossein believes the government will increase some taxes in
00:35the mid-year budget review. I wouldn't be surprised that we see more taxes on gambling and on casinos
00:42and on alcohol and on cigarettes because those are easy hit and easy places to collect revenues.
00:48I wouldn't be surprised if I see that the diaspora is wood in a greater way because those are easy
00:59places to collect remittance revenues. I wouldn't be surprised if I see a greater effort being made
01:05at tourism because again, low-hanging fruit. He notes, however, that the government can only do
01:12so much in the mid-year budget review and adds the 2025-2026 budget presentation will be the real test.
01:21He's hoping to see policies which address the following.
01:24Crime, the non-energy fiscal balance and non-energy export revenues. Once we get those three variables
01:33only improve, the economy has a chance. In the last 10 years, the murder never will soon if I may use
01:42as a benchmark. The non-energy fiscal balance will continue in its memory downwards and non-energy
01:48export revenues was neither here nor there. It was dormant, no real buoyancy. Those are the three
01:56variables that would bail out each other than the bigger economy.
01:59Runessa Cutting, TV6 News.
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