PM Briceno Addresses Inflation Concerns Amid Rising Cost of Goods

Prime Minister John Briceno rose today in the House of Representatives to address the ballooning cost of goods and global inflation. In recent weeks, Belizeans have questioned whether the government is putting in the right and propoer measures to tackle inflation. The echoing complaint by consumers surrounds the continuous rise in prices at the grocery stores and spending power.  PM Briceno says his government is cognizant of the issue and is doing all it can to tackle the increasing effects of global inflation.

John Briceño, Prime Minister of Belize: “We on this side, all 26 of us, are all fully cognizant that the cost of living for all Belizeans is a real concern. Global inflation is a real concern. We just witnessed an election in one of the world’s most powerful countries, the United States of America, which has been struggling with the cost of living and inflation. Just think a world super power and their leaders have little or no control over global inflation and the resulting increase in the cost of living. Imagine a small country like Belize also having to deal with the cruelty of inflation. But we are not afraid. We will not give up on the Belizean people and lament or grieve. We are facing this challenge head on. We are doing so by keeping our promise to build a Belize where everybody wins, where everybody fu win. As promised we raised the minimum wage to $5 effectively ensuring that more than 40,000 Belizeans have more money to take home. And as predicted the Belize Chamber of Commerce and Industry this increase forced the private sector to raise the salaries of thousands of their employees. This bold move triggered a raise in salaries for tens of thousands of Belizeans all across this nation.”

According to the Statistical Institute of Belize, the country’s inflation rate last month was 6.3 percent.