A recent report by the International Monetary Fund continued to raise alarm over the state of Belize’s economy and finances. The report confirmed that the debilitated sectors such agriculture and oil exports and increasing debt were weakening the economy significantly. It also confirmed that the Government, in response to the economic difficulties, is considering increasing the GST rate as well as the fuel tax for next year’s budget. The nation’s distressed economic state is becoming a major concern and today, Prime Minister Dean Barrow flew out of Belize for consultation meetings with Government-hired legal and financial advisers in New York.
A very vague Government-release only indicated that the meeting will be on various pending matters and gave no further information.
Those meetings seemingly will last an entire week because the PM won’t return until Saturday November 12th. Until the PM’s return, Deputy Prime Minister Hon. Patrick Faber will act as Prime Minister.
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