Belize Government Seeks Transparency in Public Expenditure Analysis

Belize Government Seeks Transparency in Public Expenditure Analysis

How much of the people’s money has the government spent over the past ten years? That’s what the Briceno Administration is trying to find out. The Ministry of Finance is working to compile a report on public expenditures over the last decade. Minister of State in the Ministry of Finance, Christopher Coye, explained to Love News that the initiative seeks to shed light on the handling of the public purse and highlight the government’s push for greater transparency. 

Christopher Coye, Minister of State, Ministry of Finance: “This government, this administration, requested a public expenditure review of our finances over the past 10 years or at least from 2011. A preliminary draft of that has been completed and we expect to have that finalized over the next month and that will be shared with stakeholders, with the public. And I think that will be quite revealing as to what has transpired in terms of public expenditure over the past 10 plus years in terms of management of finances, what funds have been spent on and the impact or lack of outcomes in connection with some of the sectors, what we’re doing now and to address those that were neglected in the past.”

Reporter: Apart from 2020, was there any specific year that you can remember where public spending sort of snowballed? 

Christopher Coye, Minister of State, Ministry of Finance: “You’ll see that in the public expenditure review. I think the intervening years from like 2014 for a few years, we’re having some real difficulty in terms of over expenditure. And then obviously in 2020, that was a unique year, but clearly there was a problem with absence of revenues and too much expenditure. So you will see what the performance was and that really, that behavior of the past government is basically what led us into the debt unsustainability position we were in. And so we had to do a lot to unravel and get control of that, arrest that situation. So that’s in terms of debt and debt management. But beyond that, there’s also we have to look at how we fiscally manage both the revenues and the expenditures over the past couple years and looking at it going forward.”

Related post

Lawsuit Looms: Receiver for Stake Bank Enterprise Accused of Mismanagement

Lawsuit Looms: Receiver for Stake Bank Enterprise Accused of…

Marlowe Neal, the receiver appointed by Atlantic Bank Limited for Stake Bank Enterprise has been put on notice for a possible…
Power Rationing Leaves Belizeans in the Dark: BEL Grapples with Electricity Shortage

Power Rationing Leaves Belizeans in the Dark: BEL Grapples…

Residents in Belmopan, San Pedro and several areas in the south experienced power outage after the Belize Electricity Limited was forced…
Thousands Unregistered with Social Security Board: Disparity Revealed in Labor Force Data

Thousands Unregistered with Social Security Board: Disparity Revealed in…

There are almost eighty thousand Belizeans in the labor force not registered under the Social Security Board’s scheme. With the recent…

Leave a Reply

Your email address will not be published. Required fields are marked *