The Statistical Institute of Belize today released the Consumer Price Index, Gross Domestic Product and External Trade Stats for Belize for the end of last quarter and the first two months of this year. According to the S.I.B., the falling world fuel prices have made its mark on Belize’s economy. As of February, the prices […]
The retail cost of rice on the local market remains a topic of discussion since last Thursday when Belize City businessman Jack Charles issued a release shedding light on seemingly exorbitant prices. Charles, proprietor of Xtra House, has expressed an interest in importing rice from Guyana at a cost, he argues, that would be significantly […]
Tonight diesel fuel remains an extremely scarce commodity in the country…and those few gas stations that have gotten stock in by tanker truck from Guatemala are dispensing frugally. The ship is expected to arrive in Belize on Tuesday night, which means that things should return to normal by Thursday morning. The shortage has impacted many […]
Going into the weekend, a shortage of diesel and premium fuel is having serious effects on the transportation industry so much so that public transportation is heading across the border to purchase diesel. Tonight only gas stations in Belize City have a limited supply of diesel; elsewhere in the country it is not available. While […]
Macaroni and cheese is a staple in most pantries in households in Belize. It’s a kids favorite; but, let’s be honest, even adults enjoy it. The same goes for ice-cream, a sweet treat that just about everyone enjoys. That’s why many consumers were alarmed this week when it was reported that the popular Kraft brand […]
Businessman Jack Charles of Extra House Supermarket issued a statement today confirming that he is the businessman who wants to import rice into the country even though Belize is self sufficient on the staple. Charles writes that last September it came to his attention that the price of rice ranged from one dollar and twenty […]
There is a report tonight on the issue of money laundering. Seven Caribbean countries find themselves on the U.S’ “Major Money Laundering List” for 2015. They are Antigua and Barbuda, Bahamas, Belize, British Virgin Islands, Cayman Islands, Dominican Republic and Haiti. The seven are listed in the ‘2015 International Narcotics Control Strategy Report,’ which was […]
Tonight, as we promised, we take another look at the 2015/2016 budget, scheduled to be debated on the twenty-sixth and twenty-seventh. In the preface to his presentation, Prime Minister Barrow made it clear that he would be coming back to the House to seek more money, since in preparing the estimates they could not possibly […]
Lizarraga also lashed out at what he says is irresponsible and short-sighted spending, rather than any attempt at prudent fiscal management. He says that it’s not sustainable, and in the end, it is the taxpayers who will bear the brunt of that exorbitant spending. Mark Lizarraga, Senator, Business Sector “This budget speaks to spending […]
In the budget, there is much focus on infrastructure, and it goes hand in hand with an unprecedented infrastructure spurt in all municipalities, with the promise of more to come. That all looks good on the ground, but Lizarraga says none of it is sustainable – certainly not the five thousand new short term jobs […]
In two weeks the Opposition will go to the House to debate the Prime Minister’s budget for 2015-2016. It’s a complex document, at least to the layman, but it’s important because it charts the path of our taxpayer monies for the next financial year, in government departments and infrastructure projects. For 2015/2016 Government projects that […]
Over the next few weeks we’ll be taking a closer look at the budget, but one area demands immediate attention. It’s difficult to ignore the scope of the infrastructure works across the country, largely funded by Petrocaribe monies and other concessionary loans. Former C.E.O. in the Ministry of National Development, which evolved into the Ministry […]
Prime Minister Dean Barrow presented the 2015-2016 Budget on Friday, and it will be debated in the next two weeks. While he hasn’t officially dubbed it a budget of plenty, it’s clear from the goodies thrown in that it’s far from an austerity budget, all due to Petrocaribe money. Where there’s an apparent downside like […]
As he has alluded to with some regularity, the Prime Minister has ramped up the allocation to capital two and three projects this year to one hundred and ninety-five million – to finance ongoing projects and new projects coming on stream. Those works, he says, will span the length and breadth of the country. […]
Even in the face of increased spending in every sector, the PM boasts that the government has done it all, and continues to do it, without any increase in taxes. In fact, he says, they haven’t raised taxes once in the past five years. Prime Minister Dean Barrow “We are once more presenting a […]
Just before midday, Prime Minister Dean Barrow made his 2015-2016 Budget presentation which he promised would be the shortest ever, but which still ran for forty-nine minutes. He prefaced the substance of the address by proclaiming that the muscularity of the voters in municipal elections would, as promised, be rewarded by the muscularity of government […]
For fiscal year 2014/2015, there is a projected overall deficit of one hundred and forty-one million dollars, a two point five percent increase from its initial estimate. That, says Prime Minister Barrow, is the direct result of government’s focus on people-centred, country-centred spending. Prime Minister Dean Barrow “The U.D.P. political directorate is unrelenting in […]
Seventy-two million dollars of the one hundred and forty-one million dollar deficit was financed through draw-downs from Petrocaribe monies. According to the Prime Minister, for the eighth consecutive year there has been no commercial borrowing. He points out that as a consequence of G.O.B.’s debt strategy, coupled with their fiscal strategy, the core numbers are […]
With that look at the projected deficit and surplus for 2014-2015, the Prime Minister turned to the outlook for the rest of the year, and expressed optimism and an expectation of economic growth. Prime Minister Dean Barrow “The Central Bank of Belize conservatively expects G.D.P. growth to decelerate to between two percent and two […]
The Prime Minister says that the priorities of the 2015/2016 budget will be in line with those of previous years, and while they have done so much, Belizeans can expect even more progress ahead. In addition to health, education and national security, G.O.B. plans to continue its infrastructural surge started in 2014. Prime Minister […]
The Consumer Price Index for January 2015 has been released, indicating that prices were down one point one percent last month. That comparison is made against the same time period for 2014. Food prices also declined by two point four percent in January, even with increases in some products which include beef, pork, fish, seafood […]
A report allegedly commissioned by Prime Minister Dean Barrow in 2014 has been making waves in the media. It’s a white paper type document on cost-cutting measures in government, and highlights areas which are regarded as wastage of public monies. It was done by a committee of seven persons headed by Francisco Zuniga. One area […]
The 2014-2015 budget speech is expected to read after the March fourth Town Council elections and while there is a three percent economic growth to boast, the rating agency Moody’s is predicting a possibility that bond holders may not get their expected yields. A release issued today says that bond holders are facing strong risks […]
Those tablets cost about one million U.S. and reliable word is that it was paid for with Petrocaribe monies. We haven’t heard much about Petrocaribe lately on the local scene, though we have heard that the initiative is running into trouble because of Venezuela’s economic woes. So today, we asked the Financial Secretary for an […]
Just two weeks before municipal elections, Mayor Darrell Bradley has come under some heat over the finances of the City Council. It’s all about the findings of an audit report for the period 2013 to 2014. To break it down, the Council has been audited in 2012, 2013 and 2014. Where the audit of 2012 […]
