Posted: Thursday, June 24, 2021. 9:41 am CST.
By Zoila Palma: Last night, on Channel 7’s Uncut, Prime Minister John Briceno said that Belize’s economy is picking up faster than anticipated.
Briceno began by saying that his administration was voted in by a large margin because he believes that the people had enough of 13 years of “incompetence”.
“People wanted a government that would be listening, a government with humility and one that will work,” Briceno said.
With relation to the borrowing of $1 million per day that former Prime Minister Dean Barrow’s administration had undertaken, Briceno said that his administration has brought that down to $250,000 a day.
“Despite the tightening and cuts, we still have a primary deficit of almost $90 million. While we have reduced spending by $200 million, only 20% of that comes from wage cuts,” Briceno explained.
In addition, the Prime Minister said that taxes are improving and in the May 2021 tax period, more taxes were collected than in May 2019.
However, the revenue from General Sales Tax is yet to catch up, he said.
“The economy is picking up faster than anticipated. It shows a first-quarter deficit of 8.4%, a reduction from 13% under the previous administration which means that by the 2nd quarter we will be on positive growth,” Briceno added.
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