By Aaron Humes: The debate on the second reading of the General Revenue and Appropriation Bill 2025-2026 resumes this morning at 10 a.m. in Belmopan.
After another largely successful year economically save for inflation in goods and services, speeches from Monday to Wednesday will feature Ministers outlining their achievements, thumping their chests on the likes of debt reduction and economic growth in tourism, agriculture, BPO’s etc.
Meanwhile, the Opposition will almost certainly be hammering the government on inflation, food prices, addressing crime and social issues.
Prime Minister John Briceño detailed the spending breakdown at his presentation two weeks ago: “we proposed 1.902 billion dollars in total spending, of which 1.296 billion dollars are recurrent in nature and 606.8 million dollars represents capital investments. In this budget cycle, 85.5 million dollars in health expenditures are now reclassified from recurrent budget to the Capital II budget, while some 21 million dollars in education expenditure has also been reclassified. Both to better align with international government financial statistics classification.”
So where does most of the money go?
P.M. Briceño said, “For this fiscal year, 780 million dollars is allotted to salaries and pensions, representing 60 percent of total recurrent spending. This total represents a net increase year on year of 82 million dollars or about 11.7 percent. At 780 million dollars, the wages and pension charges account for almost 11 percent of GDP. One of the highest in the region and therefore something that we have to keep under tight control…This year’s capital spending is the highest amount ever at 606.8 million dollars and the highest percentage ever of total spending at 32 percent. Debt servicing cost for the year remains just below 9 cents of every one dollar of spending… We will be appropriating a record 488.6 million to our Capital II budget…”
A vote will be taken on Wednesday after which the Senate meets to consider the Budget on Friday.
The post Budget Debate scheduled for today in Belmopan appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Aaron Humes: The debate on the second reading of the General Revenue and Appropriation Bill 2025-2026 resumes this morning at 10 a.m. in Belmopan. After another largely successful year economically save for inflation in goods and services, speeches from Monday to Wednesday will feature Ministers outlining their achievements, thumping their chests on the likes
The post Budget Debate scheduled for today in Belmopan appeared first on Belize News and Opinion on www.breakingbelizenews.com.
