Posted: Wednesday, December 30, 2020. 5:56 pm CST.
By BBN Staff: Today, Prime Minister John Briceno provided a synopsis on the state of the economy to Belizeans.
Briceno says that before the COVID-19 pandemic, the economy was already in recession and as such, everyone will be asked to make major sacrifices in 2021.
Briceno says that he believes Belizeans need to know why things are so bad.
“ We all deserve to know how we reached this deplorable state because of the UDP mismanagement and corruption, we will all be asked to make major sacrifices in 2021 as we seek to right the ship of stake,” Briceno stated.
Briceno explained that the Belizean economy is expected to shrink by 15% in 2020, the overall fiscal deficit is 12% of GDP, and the debt to GDP ratio will increase to 133% with the acceptable standard being 60%.
But, before asking Belizeans to make sacrifices, Briceno says that those responsible for the wreckage of the country will be held accountable.
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