Posted: Tuesday, May 19, 2020. 5:15 pm CST.
By BBN Staff: Today, in a memo to addressed to department CEOs and other public service officials, the Ministry of Finance announced further measures taken by the Government of Belize to reduce its expenses in an effort to cope with the economic backlash of COVID-19.
“Effective June 1, until further notice, dereservation of monthly Recurrent expenditure funds to Ministries and Departments, except for Personal Emoluments, will be reduced from one twelfth (1/12) to one twentieth (1/20) of the approved estimates,” Financial Secretary Joe Waight said.
The FinSec called on all accounting officers to ensure that the funds are utilized effectively.
The decision to reduce expenditure via budget cuts is one that the Public Service Union (PSU) has spoken on in its recommendations for cost-cutting measures to GOB, noting that research warns forcing productivity through budget cuts has not proven to be effective.
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