Comments Ahead of 2012 Budget Statement

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Economy

Sunday, 04 December 2011 10:57

By Gaston Browne

Antigua St John's - This year’s budget will be yet another mundane, long winded, hopeless, uninspiring statement designed to promote the oratorical skills of the Minister instead of bringing real tangible benefits to the people.

Barring the proposed economic or Investment citizenship programme which was proposed by myself, the budget will be replete with a lot of regurgitated fluff and recycled, unrealized programmes and policies.

The statement will speak extensively to debt sustainability and fiscal consolidation.  Whereas, we accept them both as critical components of any  government’s fiscal plan,  there can be no fiscal or debt sustainability without growth. 

Since 2009, the UPP Government in its budget, year after year, has promised growth but the reality has been far different resulting in rates of contraction, as high as, nine percent in a single fiscal year. This has made Antigua & Barbuda one of the worst performing economies in the world.

Today, the global economic crisis could be attributed to sluggish or low growth which is the phenomenon experienced by the majority of countries.  However, Antigua and Barbuda has suffered successive years of contraction or no growth for the past three years, with a more than likely fourth year to follow.

At no time, in our contemporary history, until recently, Antigua ranked among the worst performing economies in the world.  Clearly, the inferior economic performance cannot be attributed exclusively to the global crises.  The UPP Government must cease blaming the global crises exclusively for our country’s economic woes and take responsibility for this no growth phenomenon that is plaguing our country and pauperizing our people.  


In the absence of bold initiatives, innovative and creative programmes, some of which I will outline in my budget presentation, Antiguans and Barbudans will experience an unprecedented 4th successive year of economic decline in 2012.

Evidently, it will be business as usual with the UPP Government blaming the global crises for the misfortunes of our country and many of their sympathizers will agree and promote the UPP Government’s propaganda out of self interest, without taking into consideration the suffering of our people.


Consequently, exclusive of a regime change, 2012 will be yet another year of economic decline, another jobless year and unfortunately another year of misery for our people.

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