Posted: Friday, May 8, 2020. 2:35 pm CST.
By BBN Staff: The Government of Belize (GOB) will resort to borrowing money to ensure that it continues to pay salaries for public officers.
Prime Minister Dean Barrow explained today that, GOB has a monthly salary payout of $45 million for public officers; however revenue collections were only $41 million in April and are projected to be around $30 million in May. Barrow said that despite the economic hardship the country is facing due to the COVID-19 pandemic, he is committed to ensuring that the substantive salaries of public officers will not be reduced.
“In order to make up that shortfall so that I can continue to pay public servants every last dollar of their substantive salaries I will borrow from the Central Bank, I will do that until I can do that no more,” Barrow said.
Barrow took the opportunity to point out that the private sector is making a sacrifice for Belize without complaint because whenever the government engages in that kind of borrowing, it lessens the amount of money available to the private sector through commercial banks, but that businesses have not raised any issue about it thus far.
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