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Sep 19, 2016

Briceño Blames Economic Contraction for Salary Adjustment Deferral

John Briceño

According to Briceño, PM Barrow is unable to dole out the final three percent salary adjustment due to teachers for several reasons. Briceño points out that the economy is contracting and G.O.B. is broke having rolled out the Petrocaribe funds to win elections. And now the government is unable to keep promises made.


John Briceño, P.U.P. Leader

“The truth of the matter is that the Prime Minister has squandered over three hundred and seventy-five million of Petrocaribe monies—monies that could have been used in the productive sector, but he squandered it to the point where some have accused him of buying the election. He has also shackled this country with Lord Ashcroft to the tune of five hundred and seventy-five million dollars. And he was so reckless and desperate to be able to win a third term that he decided that he is going to pay five hundred and fifty-seven million dollars in a year. It has been so bad that no other than the government’s personal banker, the Governor of the Central Bank pointed out that if we were to do what the Prime Minister is demanding that we could have a devaluation. And then when you look, couple with that—as I’ve said this is a perfect storm coming at us in Belize. When you look that there’s been no growth; actually our economy has shrunk by two percent in the first quarter and the second quarter it was a little under two percent….so we are in a recession. And I can bet you a soft drink that in the third quarter we are still going to see a further contraction of the economy.”

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