Pensioners take a $5 Million cut

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Prime Minister, Johnny Briceño appeared on Love FM’s morning show on Wednesday where he confirmed that pensioners will be taking a cut as well. Currently public officers and teachers are at odds with the government after the budget presented last week reflected a salary cut to the total sum of 80 million dollars. All along the Government had not disclosed if pensioners would be affected until Wednesday, when Briceño noted that public officer who are on pension will also receive a cut. Briceño says this cut will yield Government some 5 million dollars less in expenditure.
For some retirees we spoke with, they expressed their discontent with the move. One officer stated that “We wah dead fi hungry… I only get $394 fi di month in pension.” Another stated that, “it is crazy cause you barely can pay for meds. And the cut in pension will affect me a lot cause my pension pay my loan at HRCU.” Yet another pensioner stated that when she heard the announcement, “I had to walk back way.”
Economists suggest that Government’s decision to take from public officers, teachers and pensioners will cause an economic ripple effect that will further stunt the country’s performance. They argue that given the reduction in disposable income of public officers, which is an economic driver, the economic condition in Belize will just worsen. At this point in time, it is advisable that government increase spending rather than cut down in order to stimulate economic activity.