PetroCaribe and the Budget for 2016/2017

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Updated: March 24, 2016

Prime Minister Dean Barrow wrapped up the budget debate last night inside the National Assembly building. One of the first criticisms that Barrow answered from the Opposition, People’s United Party had to do with the PetroCaribe funds and contracts awarded for infrastructural works.

 

 

In his presentation, John Briceno, the Leader of the Opposition said quote, : There is nothing here that even attempts to encourage any entrepreneurial spirit; nothing that speaks about reigning in government spending; nothing to make our people on the margins hope for a good year”, end of quote. According to Briceno, in 2015 the economy grew by a meager 1.2 percent, GOB overspent by more than 143 million dollars and the national debt will soon be at 80 percent of GDP. Briceno also stated that quote, “Over 39,000 Belizeans who want to work won’t be able to get a job and thousands more will join the work force this summer”, end of quote. PM Barrow reacted to Briceno’s statement.

 

 

In his final statement, Prime Minister Dean Barrow, reiterated that the budget dubbed, “Stability in a time of change”, is timely and appropriate.

 

 

The Senate will debate the budget on Tuesday March 29.