The economy of Independence 2011; P.M. says outlook good

Unlike previous years, there were no daggers drawn between the leader of the Opposition and the Prime Minister on Independence Day.  In his address, John Briceño focused on the work and vision of George Price. After declaring the day of the state funeral for Price, a public and bank holiday, the PM Dean Barrow launched what sounded like a pre-election speech. News Five’s Jose Sanchez has a report.

Jose Sanchez, Reporting

The official launching of the Independence celebrations took place at the foot of the National Assembly Building. The PM began by saluting the passing of national hero George Price with a national holiday.

Dean Barrow

Dean Barrow

“I begin by acknowledging the pall cast by the death of Belize’s first National Hero, the Rt. Hon. George Price. And I want to announce right away that, in his honor, next Monday, the day of the state funeral, is being declared a National holiday.”

And after speaking about the thirty years of independence, the PM discussed the economy. First quarter growth at six percent and a subdued second quarter will result in a year growth of no less than three percent.

Dean Barrow

“And even those costive scrooges at the International Monetary Fund have been obliged to concede that “Belize is weathering the financial crisis relatively well, when compared with CARICOM peers.” There is a mix of factors responsible for our economic growth and high export earnings from our production of crude oil is one. But, what is far more sustainable, our job-creating tourism star is firmly in the ascendant. Thus, there was a six point seven percent increase in second quarter overnight visitors to Belize, anchored by a sixteen percent jump in the month of April. And for the first half of this year, hotel revenues rose by seventeen point eight percent.”

Top it off with Central Bank’s confirmation of no inflation in 2010 to contribute to cost of living, Barrow then promised infrastructural developments and a smooth cross-country ride via multilateral development and lending agencies.

Dean Barrow

“The improvement of the Northern road network to paving standards proceeds apace with the recent award of the contract for the resurfacing that is taking place between Orange Walk Town and Progresso. And the second phase of the project going in the other direction to Blue Creek, and between the villages of San Lazaro and August Pine Ridge, is to start shortly.  In the South the work on the Punta Gorda to Jalacte road is well in hand. And in the West the contract is out to tender now for 10 million dollars worth of approach roads that will be built. This is in connection with the new Macal River crossing to replace the Hawkesworth Bridge. And it is only the first component in what is, altogether, a fifty million dollar project. Our friend President Calderón and the Mexican Government have confirmed that it is fifteen million dollars that will be spent on their gift to us, the reconstruction of the Belize City Center. The ten million dollar IDB loan for drainage works and street repairs on the north side of Belize City has already been signed, and the actual commencement will be by year’s end. Everything that we do in housing is free. We provide grants, not loans. This is because poor people-with the best will in the world-cannot repay loans except at an intolerable cost to themselves. We are witness to this even now as there are more than nine thousand two hundred historical loans currently on the books at the Ministry of Housing. The weight of these is taxing the loan recipients to perdition; but no more. Government has decided that it will write off each and every single one of those loans at a total cost of around sixty-two point six million dollars.”

Reporting for News Five, Jose Sanchez.

The address was hammered home with the promise of land without the bureaucratic trimmings. A million dollars is being spent on a new land management system that should eliminate a lot of the current chokeholds. And land is being identified in every district for survey and subdivision into house lots. Government promised to award these to first-time owners by way of immediate freehold title, and at a price not to exceed a thousand dollars.