‘Booming debt of $6.988b’
THE Bainimarama “boom” is in fact a booming debt level of $6.988 billion, says Opposition parliamentarian Pio Tikoduadua.
He made the comment during his response to the COVID-19 supplementary budget in Parliament yesterday.
“It means more than $7700 debt per citizen or a child just born in our beloved nation of an estimated population of 900,000 people,” he said.
“This is not a stimulus but a strangulation budget.
“I shudder to think what will the honourable (Economy) Minister come up with in June or July for the 2020-2021 budget if this pandemic doesn’t show any signs of abating at that time.
“We are now faced with a catastrophe.”
Mr Tikoduadua said under the proposed budget, Government’s direct assistance to those affected by COVID-19 was “a paltry sum of $100 million”.
The NFP president said the kind of borrowing Parliament was asked to approve under the pretext of a stimulus package was in no way reflected in the direct government assistance to people affected by COVID-19 and the effects to the economy.
In the COVID-19 supplementary budget, AttorneyGeneral Aiyaz Sayed-Khaiyum proposed that from April 6, 2020, workers in the hospitality sector who had lost their jobs or had their hours cut since February 1, 2020, could access $1000 from their FNPF accounts, with additional funds to be considered as the situation unfolded further.
He said for any worker who did not have the full amount available, Government would directly subsidise the difference.
Mr Sayed-Khaiyum also said employees affected by the nationwide physical distancing requirements who worked at gyms, fitness centres, swimming pools and nightclubs, along with employees in the Lautoka confined area who were on leave without pay or had their hours cut, would be able to access $500 from their FNPF accounts.