By Zoila Palma: Minister of State in the Ministry of Finance, Economic Development and Investment, Osmond Martinez, says the government’s economic strategy is delivering measurable gains without increasing taxes, citing strong growth in per capita income and fiscal reforms.
During his budget presentation on Wednesday, March 25, 2026, Minister Martinez said that Belize’s per capita GDP grew by 28.2 percent between 2021 and 2024, arguing that this reflects increased purchasing power for citizens. He emphasized that the administration has focused on expanding economic output while shielding Belizeans from additional tax burdens.
“This economic analysis clearly shows that this administration is putting more money in the Belizean people’s pockets,” Martinez stated.
He also highlighted a major income tax reform introduced in January 2025, which raised the tax-free threshold from $19,600 to $29,000.
According to Martinez, the change allows workers to retain more of their earnings while the government absorbs reduced revenue.
“We gave the working class a necessary relief and put more money in the hands of the people,” he said.
Martinez maintained that the government’s approach contrasts with previous administrations, stressing that economic growth has been achieved without austerity measures or increased taxation.
“And we did this without mass retrenchment. Without placing a new tax burden. Without putting the onus on the Belizean people,” he added.
The post Minister of Economic Transformation says economic growth and tax relief drive Government policy appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: Minister of State in the Ministry of Finance, Economic Development and Investment, Osmond Martinez, says the government’s economic strategy is delivering measurable gains without increasing taxes, citing strong growth in per capita income and fiscal reforms. During his budget presentation on Wednesday, March 25, 2026, Minister Martinez said that Belize’s per capita
The post Minister of Economic Transformation says economic growth and tax relief drive Government policy appeared first on Belize News and Opinion on www.breakingbelizenews.com.
