Posted: Saturday, September 20, 2025. 9:23 am CST.
By Hugh O’Brien: Prime Minister John Briceno was in full bragging mode during his recent State of the Nation Address, claiming that the numbers speak for themselves. Briceno said that five years ago, Belize was battered not only by the COVID-19 pandemic but also by bad governance by the UDP. He reminded Belizeans that both our economy and the Belize dollar were on the brink of collapse.
“So high have we soared that for the third year running, the IMF’s report card could hardly have been more positive”, said Briceno.
GDP growth in 2024 stood at an impressive 8.1% and in the first half of 2025 further growth is projected, said the PM. However, according to the recently concluded IMF Article IV consultation, growth in 2025 will be minimal, and is expected “to decelerate to 1.5% in 2025 due largely to a slowdown in tourism and a weak agricultural sector performance”. In the medium term, the IMF projects that GDP growth may settle to its potential of about 2.0%, unless there are major transformative interventions in Belize’s economy.
For the first time the unemployment rate is so low that there are “widespread reports of worker shortages in the private sector”, highlighted the PM.
And a next minimum wage increase is coming soon, Briceno said, and this time it will be from $5 per hour to $6 per hour. Once this $6 per hour is implemented, the Briceno administration claims that they “would be the first ever to almost double the guaranteed income” of workers who are paid at the minimum rate on an hourly basis.
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The post Soaring economic growth, low unemployment rate and a next minimum wage increase coming soon, says PM John Briceno appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Saturday, September 20, 2025. 9:23 am CST. By Hugh O’Brien: Prime Minister John Briceno was in full bragging mode during his recent State of the
The post Soaring economic growth, low unemployment rate and a next minimum wage increase coming soon, says PM John Briceno appeared first on Belize News and Opinion on www.breakingbelizenews.com.
