The Minister of State in the Ministry of Finance noted that as a result of the coronavirus crisis, consumption in Antigua and Barbuda is expected to decline by 30% to 40%.
A precise percentage decline cannot now be determined because the panic buying has actually boosted the purchase of food and other household goods.
The effect of the decline in consumption will likely result in a reduction of 60% to 70% in government revenues. Every effort to reach an acceptable level of revenue that will allow the administration to meet salary and wages expenses is being pursued.
All assets controlled by the central government and the statutory corporations and authorities are going to be compelled to report profits and to transfer portions to the Treasury, as the law allows, when the crisis ends, the Minister said.
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It’s gonna be a tough time for us…..don’t know what the government will do but some of these politicians and their cronies both present and past will need to give back some of those enrichment schemes they received. There are too many perks politicians receive that is draining our Treasury and depending on which party in governance they will have their supporters justifying the need for these perks. Eleven straight years are too minimal for politicians to receive a full pension. Saying all the above to say “our country need better management of our tax dollars” so in times like these we are in a better position to handle crisis’.
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