The national debt always factors heavily into the budget debate - and this year more so than usual because the Barrow Administration is using Petrocaribe loans to drive their spending programs. But how much is the national debt, and who is responsible for it. Well there were multiple, differing answers to that question today depending on which side of the house it came from:..
Hon. Francis Fonseca, Leader of the Opposition
"With an overall public debt of some 2.7 billion dollars, at more than two and a half times that of our revenue. Even with the so-called concessionary terms of our borrowing, our debt servicing is projecting at 180 million dollars for the upcoming fiscal year and begins to spike significantly thereafter. As our debt profile matures and the grim reapers come knocking at our doors."
Hon. John Saldivar, Belmopan
"In 1998, our national debt was just a little above 500 million dollars I recall. In the 10 years that they were the government, they took that figure up to 2.2 billion dollars with a B. In the 7 years that we have been government, we have not even borrowed half a billion dollars yet."
Rt. Hon. Said Musa
"When the UDP came in to office in 2008, the total external debt of the country was 1.7 billion. That's right. Not what the member for Belmopan said a while ago. Its 1.7, the figures are right there. You only have to look at the budget of the very same Prime Minister Dean Barrow in 2008-2009 - 1.7 billion. Today, after 7 years of UDP reckless and unaccountable spending and mis-management of the debt, it is now 2.7 billion dollars. Unless something is terribly wrong with my addition - that is one billion dollars more of debt accumulated by this UDP government. One billion with a B."
AS we told you earlier, the debate begins at 9:00 tomorrow morning and is expected to go into the evening.
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