Global Headwinds Shape Senate’s 2026 Budget Debate

After days of heated debate in the House, the budget discussion shifted to the Senate today, with a much more sober tone. Lead Government Senator Eamon Courtenay opened by warning that Belize faces a rough global climate. He pointed to rising geopolitical tensions, shaky markets, trade disruptions, and a weakening, rules‑based world order. Courtenay said those global pressures could hit Belize’s revenue and spending hard, stressing that this budget must be judged against an increasingly unpredictable global economy.

 

Eamon Courtenay, Lead Government Senator

“As we all know, as a small open economy Belize is affected by the world changes and trade dynamics. Today we witness a rules based order that is in decline. It has prevailed for years, but in the words of one prime minister it is ruptured. As a result of that, instability and uncertainly abound. We are witnessing a significant increase in protectionism. Protectionist measures, tariff disputes and a  ruptured international trading system which presents serious headwinds for the world and specifically for Belize. I say that because we have to be realistic to know that het estimates, revenues  and expenditures currently contained in the budget book will no doubt be questioned. Those projections will have to account for the effect of the war in Iran.”

 

Faber Blasts Mixed Messages in Budget Debate

 

The budget debate heated up quickly after Senator Courtenay warned of growing global instability. Opposition parliamentarian Patrick Faber wasted no time firing back, accusing the government of sending confusing and concerning signals to Belizeans. Faber challenged Courtenay’s gloomy picture of the international economy, arguing it clashes with the administration’s repeated promises to the public. He said talk of global uncertainty raises doubts about whether key commitments, like teachers’ salary adjustments, free education, and expanded NHI coverage, can realistically be delivered. To Faber, the warning signs are clear: the government, he said, is already laying the groundwork to scale back expectations.

 

Patrick Faber, Lead Opposition Senator

“So if we indeed were to believe a single word uttered by the prime minister and all those members in the House on the government’s side earlier this week, he just defeated it all. What he said Madam Speaker and I hope Belizeans were listening, is that given the unease, the uncertain environment we live in globally, all of this could go away. So when they promise the teachers the teachers the additional portion of their raise. When they promise the government schools which they are not clear about, free education. When they promise NHI. When they make all these promises and you begin by saying things kinda iffy in the world and so it all might pretty soon be unattainable so unu gear up. That is what he said, don’t worry, the budget is robust to take on all of this. So I am confused quite frankly, about his position.”

 

Herrera Challenges Government’s Optimistic Revenue Forecast

 

Business Senator Kevin Herrera shifted the spotlight from politics to the numbers, raising a red flag over what he sees as a risky change in the government’s fiscal strategy. Herrera told the Senate that the Briceño administration appears to be abandoning conservative budgeting in favor of a far more aggressive approach, one he warns may not match economic reality. He pointed out that government revenues fell short by eighty‑seven million dollars last year, yet projections now show a sharp turnaround, with an additional one hundred and thirty‑nine million dollars expected by 2026. Herrera questioned how realistic those figures are, especially at a time when global conflict and economic uncertainty continue to rattle markets.

 

Kevin Herrera, Business Senator

“No the government is projecting total revenues of one point seven nine billion for 2026. This represents an increase over the past years’ actual of a hundred and thirty-nine-million-or-eight-point four percent. This is an extremely critical issue in my view. This is what I believe in many respects makes this budget unrealistic. The government fell short in meeting its revenue target last year by eighty-seven million dollars. This year it will collect a hundred and thirty-nine million dollars more. How is this realistic? This was unrealistic before the Iran-Israel and US war. It is much more unrealistic now. The entire global economy will take a major downturn if this unnecessary war does not come to and end soon. Belize will not be spared.”

 

Attention readers: This online newscast is a direct transcript of our evening television broadcast. When speakers use Kriol, we have carefully rendered their words using a standard spelling system.

 

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