dinsdag 28 maart 2023
24.4 C
4.8 C

Government is unable to pay its $70 million debt

lees ook ...

Economic transportation is impacted by climate change

According to Wonnie Boedhoe, a former chairman of the VES, the government needs to take far more action regarding climate change and the potential economic effects it may have on the rest of society. ...

According to Stanley Raghoebarsing, Minister of Finance and Planning, before the meeting of the Council of Ministers, the state cannot pay the oil corporations the US$70 million (RvM). The minister says that the government must stop subsidizing petrol. The government’s budget is under too much strain due to the fuel subsidies.

The minister claims that the nation’s income is insufficient to cover debt repayment and subsidy payments. According to Raghoebarsing, subsidies total SRD 4 billion annually. The state is unable to invest in other industries because of its substantial debt and subsidies. The minister advises that we strive to settle the debt of US $ 6 million per month as quickly as possible using Oppenheimer.

It’s been a long time since there was a solution to the fuel subsidy issue. Minister Raghoebarsing asserts that if the government wants to avoid increasing its debt, gasoline subsidies will eventually have to be eliminated.

According to the minister, it has also becoming harder for oil businesses to wait for their money for a longer period of time. The problem is made worse by the development of the currency rate. Society has been anticipating an increase in fuel prices for more than a few weeks. The public is concerned that if fuel costs rise, retail prices will also rise.

The amount that consumers pay daily at the pump is by no means sufficient to fund the oil firms. Additionally, the oil firms are no longer able to survive on their daily earnings. According to Minister Raghoebarsing, if society is affected by this issue, it will only get worse.

For the oil corporations to be able to repurchase fuel later, they must purchase their currency at a higher rate. The minister reassures the populace that efforts are being made to find a potential solution.








En.. wat vond je van dit artikel?

-- Advertentie / POJ - 218001 --


3 Reacties
Inline feedbacks
Bekijk alle reacties

redactie tip

meer Engels, Suriname nieuws »

meest gelezen

HomeEngelsGovernment is unable to pay its $70 million debt