It's become a much repeated chorus for the Briceno administration - about how desperately bad government's finances are. And now that the Ministry of finance is getting the budget ready for the next fiscal year - consultations have commenced with key partners - perhaps to break the bad news to them.
Yesterday, Prime Minister Briceño and a team of ministers met with representatives of the Belize Chamber of Commerce and the Belize Business Bureau. The Cabinet contingent included the Minister of Tourism and Diaspora Relations, Anthony Mahler and Minister of State in the Ministry of Finance, Economic Development and Investment, Christopher Coye, along with CEO in the Office of the Prime Minister, Narda Garcia, and Financial Secretary, Joe Waight.
A release says, quote, "Discussions focused on the realistic financial situation facing the nation, with a view to rebuilding the economy." End quote.
The release adds that "the team will be meeting with the unions and other social partners in the days ahead, quote "in full realization that Belize will need all-hands-on-deck to maneuver the difficult financial situation caused by the chronic mismanagement of the economy in past years and further exacerbated by the COVID-19 pandemic." End quote.
Reports suggest that among other cuts to spending - government must also consider the possibility of across the board wage cuts - which the unions have previously resisted. Government's wage bill is about 45 million dollars a month - and right now, government is borrowing weekly to pay salaries and emoluments.
