Congress of the People on 2020 Budget

 

The political leader of the Congress of the People says Monday’s budget failed to address urgent measures needed to transform the country's economy.

According to Carolyn Seepersad-Bachan, the fiscal measures announced only appear to achieve short term political gains, as opposed to sustainable development.

She said the government's macroeconomic position was out of sync with reality.

Mrs Seepersad-Bachan said Finance Minister Colm Imbert should have predicated the budget on u-s 55 dollars per barrel and natural gas at 2.50 cents per mmbtu as the current prices could lead to a higher fiscal deficit than the estimated $5 billion for 2020.

She also accused the government of not having any real interest of addressing the agriculture sector.

Mrs Seepersad-Bachan added that despite the announcement of an increase in the minimum wage and salary increases for CEPEP, URP and OJT workers, there were no real attempts to re-engineer social programmes to lift the impoverished out of their conditions.

---

Story by: NEWS DESK

Category: