The fiscal year for the Government of Belize typically begins on April 1, with budgets usually finalized by the following March, following parliamentary debates. However, as of April 1, 2025, the only legislative document available is the General Revenue Appropriation (2024/2025) Bill, and there has been an unprecedented delay in finalizing the budget.
Traditionally, Belize’s budget is presented in early March, followed by debates and approval before the start of the fiscal year. For example, the 2024/2025 budget proposed BZD $1.51 billion in revenue and BZD $1.604 billion in expenditure, with a focus on expanding education and healthcare services. Prime Minister Briceño emphasized the importance of fiscal consolidation, citing a public debt-to-GDP ratio of 66.3%, a notable decrease from 132% in 2020, alongside a 3.4% unemployment rate. “The International Monetary Fund (IMF) Statement confirms that this Administration is on the right track… Belize is on a path to ongoing prosperity, sustained full employment, lower inflation, and reduced public debt.
The delay this year is due to election-related disruptions, resulting in the budget debate being postponed until mid-May 2025. In an interview on March 26th, Prime Minister Briceno stated. “I think we’ll have it ready for May. It was pretty much finished but with the different changes and we still had some pieces to finish up but when election came you know pretty much it never dawned on my now being Prime Minister to see it’s almost the entire government runs the election so many of them were not available to do the work. So now we’re finishing that off and making the adjustment in the ministries. On Tuesday, we’re going to make a presentation to cabinet on how the overall look, and we’ll have everything ready probably the second week of May simply because the first week of May is a short week.”
Since the National Assembly building is undergoing rehabilitation, all house sessions are currently being held at the George Price Center. The absence of a finalized national budget raises concerns about fiscal planning from April 2025 onward. While the government has cited elections as the reason for the delays, critics argue that this disrupts the continuity of funding for public services and capital projects.
