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PM Brinceno Gives Update on GOB’s Economic Recovery Plan

The paycuts were part of the Government’s plan to rescue and revive the weak economy. As Government continues to implement its home-grown plan, the Central Bank of Belize has released its Credit Conditions Survey results for the first half of this year. The survey deepens the Central Bank’s understanding of credit market conditions and the information is used in macroeconomic projections and monetary policy decisions. The Central Bank found out credit demand has seen a marginal pick up more so in the second and tertiary sectors than in the households and primary sectors. As for the prospects, it is expected that there would be a mild economic rebound as lockdown measures ease and international travel regains momentum. Today, Prime Minister Briceno stressed the importance of being vaccinated and how this contributes to the economic rebound of Belize.

John Briceno, Prime Minister of Belize: “We as government and our party we need to keep focus to address the issues of the pandemic, getting as many people vaccinated. I repeat again please get vaccinated that is the only way we can try to live as a normal life as we possibly can and to open up the economy and create jobs and opportunities for everyone. We have to keep focus on the economy, creating jobs, creating opportunities for everybody, as a government we remain focused on our work. What we’re looking at is trying to address what is in front of us the whole issue of how we can get the economy going, how we can collect the taxes that we should be collecting and once we address those issues I believe we are going to be fine but only time will tell as to what exactly neds to be done. Right now we have set our targets and we believe that we can reach our targets if everybody does their part.”