In an address to the nation last evening, Prime Minister Dr. Keith Rowley painted a gloomy economic reality for the country, one which if not properly managed, could lead to the International Monetary Fund. He said maturity is needed and sacrifice a key word moving forward.
Dr. Rowley said with immediate effect, Ministries and statutory bodies have been instructed to find way of cutting expenditure. He assured such measures will not affect jobs.
He said there will be a major construction-led investment programme to rescue the economy. The Prime Minister said spending on CEPEP and the Unemployment Relief Programme will remain in tact. And in conveying the need for shared sacrifices, Ministers are to give 5% of their salaries to a charity of their choice for the next 2 years.