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Patrick Faber to GOB ‘Your budget lacks a plan to deal with external factors affecting the economy’

Posted: Friday, March 24, 2023. 2:03 pm CST.

By Breaking Belize News Staff: Collet Division Area Representative Patrick Faber is not impressed with the 2023-2024 national budget presented by the Government of Belize (GOB) and has argued that the budget fails to take external factors affecting the economy into consideration.

During his address at the national assembly, Faber called out Prime Minister John Briceño for merely mentioning external issues such as rising inflation in the global market and increasing interest rates, and the economic impact of the ongoing pandemic.

“Merely pointing out these external factors without offering any kind of concrete solution, that is what he does,” Faber said. “Merely pointing out these external factors without offering concrete solutions or steps to address them raises concerns about the government’s preparedness to tackle such challenges head-on.”

Faber said that the Prime Minister failed to explain how the increased inflation rates and the subsequent measures to address such inflation rolled out by countries such as the United States will impact Belize. He also said that Briceño did not say how Belize would handle another major pandemic spike or a natural disaster and also said that the budgetary allocations for climate change were inadequate.

 

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