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March 5, 2020

BUDGET 2020: Prime Minister’s victory lap

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Posted: Thursday, March 5, 2020. 12:23 pm CST.

By Aaron Humes: The Government says it proposes $1.362 Billion in spending plus $109 million for debt obligations in general revenue and appropriations for 2020-21, while guaranteeing the salaries of public officers and maintaining its coterie of pro-poor programs and infrastructure boom.

Projected revenue is $1.239 Billion in tax revenues and capital outlays, requiring $232 million in additional financing.

Prime Minister and Minister of Finance, Dean Barrow, blamed the drought that ravaged the agricultural and manufacturing sectors for growth being slower than normal – 0.3% compared to 2.1 percent in 2019 and 2.8 in 2018, but he called it nothing short of a small miracle considering what the world and region has been facing.

And he stated as a point of pride that Government avoided higher and more taxes on a burdened economy while keeping the debt – at $3.537 billion – largely sustainable.

We will have a full review in a later story.

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