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Oct 10, 2019

Senator Lizarraga Says G.O.B. Spending is Out of Control

Mark Lizarraga

The IMF’s preliminary report on Belize’s economic says that the recovery is moving at a glacial space. During the first three months of the year, the G.D.P. grew by an unusual five point two percent. The second quarter, however, recorded a zero point eight percent decline.  Officials from the International Monetary Fund were in Belize between September twenty-third and October fourth and held discussions with Prime Minister and Minister of Finance, Dean Barrow, Financial Secretary Joseph Waight and Central Bank Governor Joy Grant. The report is in its preliminary phase and according to Private Sector Senator Mark Lizarraga, what has been reported on so far is reason for concern.

 

Mark Lizarraga, Senator for Private Sector

“Some things are very concerning of course. The fact that we continue to see our national debt so high. We continue to have to borrow to have foreign exchange basically to meet our obligations, to pay our debts. That is a major concern. The fact that government cannot control its spending is another major concern even though it made commitments to curtail its spending and there are many other issues that is alarming that I think we are still missing the boat on so. We continue to borrow and spend with very little oversight, or no oversight. We don’t have a Contractor General. The Finance and Reform Act states that the details of and the contract should come to parliament to be scrutinized. We still don’t get those. So, same things we have been saying all along. The cost of living goes up.”


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