Local News

Marion Ali reporting live from Belmopan

MARION ALI, Reporter

“The Prime Minster said that Belize is doing economically well, having been able to increase its GDP by 2% since 2008.  In addition to this he said that the government has expanded its program and have made strides in the housing and educational sectors.  The Prime Minister also pointed to his government decision to write off student and other loans obtained from the DFC.  In terms of the export market, Prime Minister Barrow said that even as it looks to seek to see the majority shareholder in the Sugar Industry change hand, the production of sugar during the last year has been encouragingly good but there were some areas in which we did not do so well.  Inflation rose from 0.9% to over 1.1%.  The Fishing and Banana Industries showed some decreased in exports and oil revenues have decline.  The 2011-2012 budget figures showed that the Government’s expenditure increased largely because of increments for teachers and public officers.  The Government said Prime Minister Barrow, is committed to renegotiating the super bond and tightening the proverbial economic belt but even so this will come with attention given the priority need areas.  The new budget, said the Prime Minister, holds for no new taxes or additional taxes but instead there will be some administrative adjustments.  The Prime Minister has set aside July 11^th and 12^th as the dates to debate the budget.  We will have more details of the budget presentation in our 6 PM news report.  Reporting live from Belmopan for Love News, this is Marion Ali.”