Musa: Still living in a good country
It’s a People’s United Party innovation that is part report card, part cheerleading session and part social event for local and visiting dignitaries. And while no state of the nation address could ever be mistaken for confession, the one delivered in Belmopan this morning had some candour mixed in with the usual dose of optimism. Janelle Chanona reports.
Prime Minister Said Musa
“There is no doubt that we are still living in a good country.”
Janelle Chanona, Reporting
…A theme at the heart of the Prime Minister’s State of the Nation address, delivered this morning in Belmopan. Armed with quotes from the Bible, Nelson Mandela and Kofi Anan, Said Musa highlighted the good, outlined the bad and challenged the ugly.
First the good. According to the P.M., despite overwhelming global odds, Belize has continued to experience positive rates of economic growth.
Government figures show that in 2002, G.D.P. grew by three point seven percent, fuelled by an impressive recovery by the banana industry, respectable with citrus and sugar exports, and the improving performance of farmed shrimp, papayas and soybeans. According to the P.M., the upward trend has continued.
Prime Minister Said Musa
“Preliminary data for the first six months of this year show that this positive trend in growth continues. And all indications are that we will achieve an annual growth rate of over four percent by year’s end. Leading the way is the services sector, particularly tourism, where both cruise passenger arrivals and overnight visitors arrivals for the period, January to June 2003, have shown dramatic increases of one hundred point two percent and twelve point one percent respectively over the first half of 2002.”
“With the significant rise in export earnings, combined with a levelling-off of the import bill, international reserves continued to increase and at thirtieth June 2003, stood at some two hundred and forty point two million dollars compared to one hundred and ninety-six point two over the June 2002 position. In the same period, consumer prices over the past twelve months rose slightly by two point two percent, largely reflecting the increased cost of imported fuel and a few other basic consumer goods, while unemployment stood at around ten point six percent.”
Then came the bad. Because even though the P.M. emphasised the avid promotion of investment opportunities and initiatives for job generation, there was no getting around the numbers representing government’s debt.
Prime Minister Said Musa
“At the end of June 2003, the total Public Sector Debt stood at approximately one point two-three billion dollars. Of this amount, Central Government’s share was one point zero-seven billion dollars. This latter number reflects reduction of over fifty-one million dollars in public sector contingent debt, due to the ongoing restructuring of the Development Finance Corporation’s securitization portfolio. Of the total Public External Debt Outstanding, forty-eight percent was from either multilateral and bilateral sources, and fully sixty percent had a maturity structure of ten years and over. Still held on deposit at this time is some ninety million dollars, which is programmed to retire more debt as part of Government’s on-going debt restructuring exercise.”
And finally, the downright ugly. With problems like corruption, poverty, crime and AIDS very much on the public’s mind, the Prime Minister plans to fight back with education and unity.
Prime Minister Said Musa
“As the United Nation Secretary General Kofi Anan said, “Good governance is perhaps the single most important factor in eradicating poverty and providing development. Without it, no amount of funding and no short term economic miracles will set the developing world on the path to prosperity.” Improving the infrastructure and the living conditions of the people and maintaining good governance will go a long way on the road to sustainable development and the elimination of poverty. But investing in our most precious resource, the people, provides the real ladder of opportunity out of the poverty trap. How fitting is the theme for this year’s independence celebrations: “Education: The Hope of a Young and Growing Nation.” For it is through education and the development of our human resource capacity that we are best able to drive our own development, address our societal problems and provide choices for people to create a better future for themselves and their families.”
Janelle Chanona for News 5.
You can find the full text of the State of the Nation address at www.belize.gov.bz.
