7 News Belize

Government Facing Chasmic Deficit
posted (May 14, 2020)
So, we are back to an impasse - the unions on on side; government on the other. And between them a 300 million dollar chasm. That's right, government projects its recurrent deficit will be upwards of 275 million dollars.

And, the PM says that when you're 300 million dollars in the hole, the kind of cost savings that the unions are talking about don't count for much:

Rt. Hon. Dean Barrow, Prime Minister
"Let us not fool ourselves, let is not try to have any one suggest and get away with it that we would not be where we are, or we could get out of where we are by effecting cost savings. There is no cost savings that can be possible to the extent that would relieve us of more than as I said this small savings of 75 million dollars, not small general, but in the context of where we are, leaving us with a deficit of basically 300 million dollars. Don't let us misunderstand what is happening and what is happening to us is happening to every country. There is no point talking about what you could have done in the past, what was not done at any particular juncture. The richest countries in the world are catching their tail. The only way, I repeat, you can bring the finances back into alignment is if if you cut salaries and cut staff and I also repeat I am not prepared to do that."

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