Belize Government Passes $1.78 Billion Budget Focused on Capital Investment

The national budget debate for the Briceno Administration’s one-point-even-eight billion dollar budget, wrapped up in Belmopan yesterday. Presented under the theme “From Promise to Performance,’ the debate saw three days of debate, that some have sad lacked the usual spirited back and forth between government and the opposition. The budget represents a notable increase in spending compared to the 2024/2025 fiscal year, which saw a proposed expenditure of $1.604 billion. This uptick is largely driven by a record allocation for capital investments, reflecting the government’s commitment to infrastructure development. Key highlights of the Budget include increased spending, record capital investments with emphasis on crucial areas like healthcare, education, infrastructure, and renewable energy. Comparing it with last year’s budget showed that this year’s budget took a more aggressive approach to capital expenditure. The 2024/2025 budget proposed $1.604 billion in total expenditure, with approximately $430.7 million programmed for capital investment. The 2025/2026 budget sees total expenditures rise to $1.78 billion, with capital investments soaring to $528.8 million. When rounding out the debate, Prime Minister John Briceno managed to skillfully highlight his government’s successes while simultaneously taking shots at the leader of the Opposition Tracy Panton. 

John Briceño, Prime Minister of Belize: “How? How can economic growth at almost four times the historic rate of 8.2% in 2024 not elicit commendations from the Leader of the Opposition? In the 13 years of the UDP, not including the COVID years, you know, what was the average economic growth rate of the UDP? The average over those years? 1.5%. In fact, our government, since we got into government every single year we had economic growth of over 8%. How can foreign direct investment, or how can our Foreign Direct Investment program, not be a reason for her to celebrate? Foreign direct investments in 2024 alone was over $368 million. In fact due to our successful fiscal incentive program from 2021 to 2024, this PUP administration has generated $1.2 billion in foreign direct investments. How can employment at almost 98% Madam LOO not elicit your enthusiastic approval? This government, despite all of these investments, is proposing a budget with a primary surplus of $106 million. How can they not appreciate this?”

A consistent theme in both budgets is the commitment to not introduce new taxes, a promise reiterated by the Prime Minister for the 2025/2026 fiscal year, as was the case for the 2024/2025 budget. The debate drew to a close with the LOO committing to holding the government to account, and the Prime Minister assuring that all the exchanges are in the national interest.

Tracy Panton, Leader of the Opposition: “We maybe few in number but we are committed to defending the democracy of this country. We’re committed to being the voice of the persons who have sent us here. We’re committed to lending our input into the policies and legislative framework for the country. And so we punched above our weight, in my opinion, over the last three days and I want the people of this country to know that we will show up and we will continue to hold this administration and ourselves to account.”

John Briceño, Prime Minister of Belize: “I just want to assure Madam Leader of the Opposition that I think that’s the spirit. We want to be able to be here to have a lively debate, but there’s no need to be mean and rude in our debate. Because I believe at the end of the day, all of us in this honorable house love Belize as much as one another. So I want to assure the leader, and with that, I move the adjournment.”

We note that two members of the UDP, deputy leader Hugo Patt never showed up for the debate