By Breaking Belize News Staff (HP): Prime Minister John Briceño says Belize’s reliance on imported energy leaves households, businesses and public finances vulnerable to events beyond the country’s control.
Speaking at the Caribbean Ministerial Meeting on the sidelines of the IMF and World Bank Annual Meetings in Bangkok, Briceño said fuel prices in Belize have risen 27.7 percent since the crisis in the Strait of Hormuz.
He said the Government has tried to ease the burden through fuel tax reductions while maintaining fiscal discipline.
“Our immediate challenge has been to provide relief without compromising the fiscal position needed to withstand future shocks,” Briceño said.
Despite the pressure, the Prime Minister said Belize expects to maintain a primary surplus in 2026. He also noted that public debt has continued to fall, reaching 66.4 percent of GDP in August.
Briceño called for closer regional cooperation to lower costs for small states, particularly in renewable energy, green finance, payments and technical capacity.
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