Economist Dr. Indera Sagewan weighs in on the announcement by Prime Minister Kamla Persad-Bissessar that the mid-year budget review is scheduled for next month, saying citizens will be paying close attention.
She says many are eager to hear what measures are being implemented, or are planned, to place the country on a stronger economic footing moving forward...
00:00According to Dr. Sajuan, with June fast approaching and half the fiscal year already behind us,
00:07the government may still be settling in, but she stresses that the public's patience must be balanced with urgency.
00:16She says time is moving swiftly and notes that meaningful action is now imperative.
00:22What I expect in the midterm review, which is really upon us, is for the government to give us more details in terms of the amount of the annual budget that has already been spent,
00:37where it has been spent, and going forward, how the government intends to fill the hole that will exist
00:48in a more way that gives us a clear breakdown of where you're going to be borrowing from.
00:54Dr. Sajuan is urging that during the mid-year budget debate,
00:59the individual ministers affiliated with diversification and the energy sector step forward
01:05and clearly state the specific measures their respective ministries will be undertaking to boost and revitalize the economy.
01:13She stresses that at this critical juncture, the public deserves more than broad statements.
01:20They need transparent, detailed accounts of how each sector is contributing to economic recovery and growth.
01:28We get more details from that because it is one thing for the government to tell us we are going to be borrowing money
01:34in order to maintain current standards, in order to meet the promises that we made on the campaign trail.
01:40But I think what people want to know simultaneously is that things are being done to put the country,
01:47in the medium to long term, on a footing where our revenues situation is going to be a lot stronger than it currently is,
01:54that there's going to be a more diversified basket of sectors that we are earning money from.
02:01According to Dr. Sajuan, clearly defined strategies, measurable outcomes and a unified sense of purpose across ministries
02:10will be essential if the country is to move forward.
02:13She believes this is not an unreasonable ask, even though the government is very new.
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