Providenciales, TCI July 20, 2017 — In a cabinet note released yesterday afternoon it was announced that the Turks & Caicos Government is once again recording high revenues.
The Monthly Financial Report for May 2017 revealed that the Consolidated Fund had a surplus of $5.8million. The recurrent revenue for the May was $25.7 million which was $300,000 greater than the forecasted budget. Cabinet also revealed that the Caribbean Development Bank loan of $1 million for Invest TCI had been repaid. This is not the first large surplus to be recorded by the government in recent times.
In 2016, the former administration came under fire for the $68.6 million surplus for the 2015-2016 financial year. The former administration was accused by the PDM of neglecting works and other community projects while bragging of surpluses.