Soaring Fuel Costs Rattle Economy, But PM Points to Bright Spots

As rising fuel prices continue to squeeze households and businesses, Prime Minister John Briceño used his national address Monday night to walk the country through where the pressure is hitting hardest, and where Belize is holding the line. While the Prime Minister acknowledged the strain higher fuel costs are placing on key sectors and outlined steps the government is taking to rein in expenses, he also struck a reassuring note. Briceño pointed to employment and tourism as areas showing resilience, saying both sectors have so far avoided the worst of the fallout.

 

Prime Minister John Briceño

“With respect to the wider economy, the good news is that so far the effects of the conflict has not materially dampened employment and investment flows. The forecast for calendar year 2026 remains positive with all of government’s focus and resources directed to protecting our industries home and abroad. Fortunately, to date, the tourists continue to come and all airlines and routes to Belize remains strong. Thankfully our agricultural sector and other areas like the BPO business are robust and insulated from the current chaos. In education, the tens of millions for scholarships and subsidies as well as the early tart and school feeding programs will be maintained. In health and wellness, free medical services at our hospital and NHI national rollout will continue. Rest assured that when it comes spending reduction and cuts, this government will never reduce investments we have budgeted for those most in need. That is the sacred contract of plan Belize 2.0.”

 

‘Be Resourceful’: PM Tells Public Service to Rein in Spending

 

As global shocks continue to ripple through the economy, Prime Minister John Briceño is calling on both public officers and the wider public to tighten their belts. He’s urging government departments to become more resourceful and rein in spending, while asking Belizeans to conserve electricity and fuel wherever possible. The Prime Minister says these steps form part of his administration’s broader effort to cushion the country from the fallout of global events and to minimize the impact on everyday Belizeans.

 

Prime Minister John Briceño 

“I know that pocket bush issues are the most sensitive for you. The transformation of the public finances since 2020 gives us room to confront these challenges and I will foreswear no option in keeping government’s promise of national prosperity. Let us stay focused and work together with optimism. Let us be resourceful, especially our public servants. Reduce cost where possible. AS consumers, let us all choose Belizean products whenever we can. Let us conserve fuel and electricity in our daily routine. Belize is a land of resiliency, our people, one of resourcefulness. Together, we will overcome these challenges. The government is committed to minimizing and mitigating the impact of global events and working closely with all stakeholders and the community to protect our national interest.”

 

News Five will continue to monitor the cost of fuel at the pump and any further cost saving measures that the Briceno administration may implement.

 

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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