In the wake of the Prime Minister’s trip to Peru, Dr Hubert Minnis noted that corruption causes about five to ten per cent of a nation’s Gross Domestic Product (GDP). 

The Prime Minister also made a startling observation with regard to The Bahamas’ GDP.

He said, “When you look at The Bahamas with  GDP of about $10 billion, if we were to take the lower of the world’s figure, which is five per cent, that would mean that The Bahamas lose about approximately $500 million per annum as a result of corruption.” 

Dr Minnis also said that he was “very conservative” in his calculations. 

Although he did not discuss way in which his government intends to combat corruption, he mentioned that tackling it “as an entity” can increase the economy. 

He said  “that’s an economic stimulus. There would be more monies available for schools, for hospitals, more monies available for jobs, for young people, to commence programs, and entrepreneurship.” 

“That is why the entire world is looking at this factor to use another factor to boost the economic growth and a better economy.” 

He added, “You must know that corruption or monies that were taken out of the system through corruption is essentially an illegal form of taxation on the poor, the public, and investors, and that must be dealt with appropriately.” 

Dr Minnis also took an opportunity to respond to comments made by the Leader of the Opposition Phillip Davis. 

Mr. Davis suggested that the Prime Minister focus less on negativity and more on promoting the positive. 

Dr Minnis said, “I went through it slowly so that the opposition could understand what I said. We should not be sneaking in the dark. I will always remember a very excellent quote. I cannot remember the author, but I love the quote. It states, ‘I would prefer to get punched in the face by the truth than kissed on the cheeks by lies’”.