Going into the Easter holidays, last Wednesday, the pump price for premium gasoline increased by forty cents; it took the cost up to a whopping eleven dollars and thirty cents per gallon. Well, there is a third increase in two weeks because today, the Ministry of Finance is announcing yet another hike, this time in […]
Since 2018, the Organization of American States and the Trust for the Americas have been working with the Government of Belize and Civil Society on moving towards open government. It simply means that key stakeholders would be able to access data to develop the economy, specifically major sectors such as agriculture, tourism and even micro-businesses. […]
Today’s event is part of the extended schedule of activities under the Development of the Caribbean and Code Sprint Initiative, coordinated by the Caribbean Open Institute for 2019. The regional initiative takes place simultaneously in seven countries and discusses how digital data impacts national development. Director Maurice McNaughton says that while it will take some […]
A hundred and forty-seven million dollars worth of goods were imported into the country, while exports were down to twenty-five point four million dollars, a fifty-four percent less than the previous month. These are some of the figures released by the Statistical Institute of Belize today. SIB also reports that the cost of living went […]
Fuel prices will go up for a second time in one week. Today, the Ministry of Finance announced that at midnight, the pump price for premium gasoline will increase by forty cents taking the cost up to a whopping eleven dollars and thirty cents per gallon. Government repeats the reason for the increase as a […]
Amid the ongoing saga of Atlantic International Bank Limited and the winding down of its operations in Belize, Prime Minister Dean Barrow, on the advice of the Central Bank, has formally canceled its banking license. The revocation follows a number of measures taken by the Central Bank, including enhanced supervision of AIBL’s performance, as well […]
Fuel prices are taking a hike at midnight on April eleventh. This evening the government confirmed that regular gasoline will increase by thirty-nine cents from ten dollars and twenty-one cents to ten dollars and sixty cents per gallon. The price for diesel will increase by three cents from ten dollars and twenty nine cents to […]
The Belize Electricity Limited has asked the Public Utilities Commission to maintain the mean electricity rate of forty-one cents per kilowatt-hour from July of this year through to June of next year. After an increase in January, it was expected that another increase would have followed in June, but according to B.E.L., the current rates […]
There are new details tonight in respect of the crisis at the Atlantic International Bank Limited. We can confirm that AIBL has started a voluntary winding up and representatives from the Central Bank of Belize have been deployed to the bank to ensure that the process is smooth and clients are protected as much as […]
Following its passage in the House of Representatives, the budget for 2019/2020 went to the Senate floor today. Debate in the upper house started with a robust statement from private sector senator, Mark Lizarraga. The senator noted that the figures do not add up and there was no accountability of how the people’s money was […]
There are more questions than answers to the legal and financial troubles looming over Atlantic International Bank Limited. Reports reaching our news desk tonight are that AIBL is facing serious crisis in the offshore sector, following a civil suit filed in Michigan, United States and is allegedly facing voluntary liquidation. The signage at the headquarters […]
Following the no vote for the Diaspora Bill, at around eleven o’clock on Tuesday night, Prime Minister Barrow closed off the exhaustive two-day debate of the 2019-2020 Budget. After responding to the criticisms from the Opposition, the PM continued to tout the budget, lauding government’s track record for improving the economy and the spending on […]
The Statistical Institute Belize today released its latest figures relating to the Gross Domestic Product during the fourth quarter of 2018. They report that the economy grew by one point three percent in the fourth quarter. The increase is attributed to the growth seen in the primary and tertiary sectors which experienced a twelve point […]
At news time, the budget debate is still ongoing at the National Assembly. This morning, Cayo South’s Julius Espat started the debate, which will be wrapped up later this evening by Prime Minister Dean Barrow. Espat and other members on his side of the House hammered the budget, touching on a wide range of issues, […]
Day-one of the budget debate got underway this morning and will continue on Tuesday, Government has a week before the end of the financial year on March thirtieth and the start of the new on April first. The estimates were presented on March fifteenth by Prime Minister Dean Barrow, giving the other side of the […]
The government announced today that the price for diesel gasoline will decrease by one cent. Yes, you heard right—one cent. At midnight tonight, the price per gallon of diesel will decrease to ten dollars and twenty-nine cents, still above the ten dollars mark. The government, via a release, explains that the decrease reflects the “stabilization […]
The budget for the new financial year that begins on April first, was read today by Prime Minister Dean Barrow in the House of representatives where a number of seats on the other side were empty as some parliamentarians were in the Supreme Court. The thrust of the “Moving Ahead” budget provides for massive spending […]
Government’s wage bill continues to be the single largest budget item as far as its recurrent expenditure, surpassing the cost of goods and services by as much as one hundred and ninety million dollars. Of the total that is being earmarked for interest payment on existing debts, government has set aside one hundred and fifteen […]
At midnight tonight, motorists will be hit it the pocket again. That is because on the heels of an increase in fuel price on February twenty-seventh, the sixth hike for this year has been announced. The price at the pumps per gallon of regular gasoline will go up by a whopping sixty cents which will […]
Last month, we shared a story on the economic benefits of migrant-founded businesses like Quality Poultry Products in Spanish Lookout. The poultry producer was also recognized with a cover story for a digital publication called Business View Caribbean. It is an e-publication with more than 30,000 executive subscribers throughout the region. The Business View Caribbean […]
The Belize Trade and Investment Development Service, through support from the Regional Center of Promotion for MSME (CENPROMYPE) and funds from the U.S. State Department, launched a project called the Female Entrepreneurship Program. The program, which is a first of its kind for Belize, is designed exclusively for women to improve and strengthen their leadership […]
The pump price for diesel fuel is set to increase at midnight on Wednesday. It will go up by thirty-three cents, from nine dollars and ninety-seven cents to ten dollars and thirty cents per gallon. Kerosene will also see an increase of twenty-nine cents, from seven dollars and forty-five cents to seven dollars and seventy-four […]
In other news…A reform in the trade license fee is expected to be rolled out across the country in 2020. The legislation has been completed and according to Belize City Mayor Bernard Wagner, it has the full support of all municipalities. Mayor Wagner says that businesses of all types will benefit from the reform. […]
During Thursday’s economic forum, the Prime Minister boasted about the encouraging outlook of the economy. According to P.M. Barrow central government recorded a primary balance of not less than two point two percent. He said that fiscally and economically the economy is currently sound, and theoretically ready for takeoff. Prime Minister Dean Barrow “Of […]
While the Prime Minister boasted a positive G.D.P. growth in 2018, the Belize Chamber of Commerce and Industry says that much more needs to be done in terms of taxes. According to P.M. Barrow, the government is ‘making progress towards improving administrative efficiencies through the amalgamation of the G.S.T. and Income Tax Departments.’ Progress is […]
