Economy

Current price-control regulations could discourage investment, reduce product availability and place smaller importers at a competitive disadvantage, the Belize Chamber of Commerce and Industry (BCCI) has warned. The BCCI, the country's leading private-sector advocacy organization, is calling on the Government of Belize to reverse the expanded price-control measures introduced in 2023, arguing that the framework—implemented during a period of exceptional global inflation and

The investigation into procurement at Belize's Ministry of Defence has largely focused on whether taxpayers paid too much for imported military boots. Jaime Marin, proprietor of the local manufacturer Umbraland, argues that the larger question is whether the Government is failing to use its own purchasing power to develop domestic industry. Mr. Marin points to Section 19 of the Fiscal Incentives Act, 2023, which provides that 20% of all government stores purchased and contrac

Belize People's Front Leader Nancy Marin is calling for a "Buy Belize First" procurement policy, arguing that government spending should prioritize Belizean-made goods to strengthen local businesses and reduce the country's dependence on imports. Marin unveiled the proposal as part of a broader economic policy statement in which she argued that government procurement should become a tool for building domestic industries rather than supporting overseas producers where local al

The world's principal institutions overseeing energy, finance, development and trade say the immediate shock from the Middle East war is easing, but warned that the global economy remains vulnerable and governments should remain prepared for further disruption. In a rare joint statement issued after a high-level coordination meeting on July 7, the heads of the International Energy Agency (IEA), International Monetary Fund (IMF), World Bank Group and World Trade Organization s

BELIZE CITY, Thurs. July 2, 2026 — Average monthly income in Belize has risen 13.3 percent over the past four years, outpacing headline inflation of nearly 11 percent, but the sharper 18 percent increase in food prices suggests many lower-income households may have seen little improvement in their purchasing power. The latest Labour Force Survey released by the Statistical Institute of Belize (SIB) shows that employed persons earned an average of $1,525 per month in April 202