The September 7 national budget has come like a thief in the night, says political leader of the Congress of the People (COP) Winston Dookeran.

’It looks like a thief in the night budget. We will be looking at the situation as we see fit. However, it is unusual to announce the budget date at an Independence Day celebration, that is a matter that is normally dealt with in the Parliament,’ Dookeran told the Express by phone yesterday.

He was responding to the announcement of the budget date made by Finance Minister Karen Nunez-Tesheira at the Independence Day parade in Port of Spain yesterday. She also said there will be an expected deficit in this year’s budget.

’Deficit financing is apparently the approach the Government is taking to deal with the situation facing the economy today. Deficit financing today will become a debt problem tomorrow. The key issue is whether the next generation is being mortgaged to pay for the consumption of the present generation,’ he said.

Dookeran, a former governor of the Central Bank, said if the Government attempts to keep the same expenditure pattern, this will not provide the stimulus the country requires to be able to deal with the problems in the economy today, especially in the non-energy sector.

’One will be looking to see how the non mainstream sectors such as the agricultural sector will be treated. That the country has gone in recession would suggest there needs to be some major changes in the way in which money is being spent in order to come out of this recession,’ Dookeran said.

He added that the Government also needs to look closely at the price of gas on the international market, since this was a gas-based economy.

Asked what he hopes to hear in the budget next week, Dookeran said, ’I hope there is a comprehensive stimulus package for the manufacturing, service and agricultural sector.’ - AR