Laing On Rising Cost Of Living

NASSAU, BAHAMAS – Former Free National Movement Senator and State Minister for Finance Zhivargo Laing was the guest on Our TV’s ‘On The Record with Jerome Sawyer’ this past week.

Laing weighing in on the International Monetary Fund’s warns that the cost of living is going up.

He says while he understands those factors, he believes it is also being used as an excuse.

Even so, Laing says he believes Bahamians have found ways to adjust.

And, as the economy finally began to show signs of rebound, Laing was asked if he believes the economy could handle another setback this soon.

Now, according to Minister of Foreign Affairs, Fred Mitchell, the poverty level has hit 47 percent.

However, Laing notes that based on the United Nation’s definition of poverty – earning $1 per day – he believes the country’s poverty level is relatively low compared to other countries.