Prime Minister John Briceño presented the Budget Appropriations Bill for Fiscal Year 2026/27 at a special session of the House of Representatives in Belmopan on March 10th. The speech outlined revenue and expenditure estimates starting April 1, 2026, and reported on the previous fiscal year’s performance. Titled “Budgeting for Belizean Prosperity,” the budget projects total revenues and grants of $1.79 billion against expenditures of $1.90 billion.
The presentation followed the formal process in which Briceño introduced the bill and outlined the government’s fiscal outlook. Revenues are expected to grow by 8.5%, driven by economic growth and better revenue collection. Expenditures include a record $606.8 million in capital spending, making up 32% of the total budget. Adjustments were also made to classifications in the health and education sectors to align with international accounting standards. Salaries and pensions are projected to total $780 million, representing an 11.7% increase.
Recent fiscal performance provided context for the government’s projections. Public debt has declined from more than 130% of Gross Domestic Product (GDP) in 2020 to 66.6%, a level described as sustainable by the International Monetary Fund (IMF). The 2025/26 budget recorded a primary surplus of 1.40% of GDP and an overall deficit of 0.49%, exceeding initial targets. Economic growth reached 1.9% in 2025, unemployment fell to a record low of 2.0%, and inflation declined to 1.1%.
Prime Minister Briceño stated, “The Budget proposals will lift even higher our standing and spirits, fulfilling this government’s commitment to boosting prosperity and opportunity for every Belizean.” He highlighted wage increases for public officers and continued investments in health care, education, and infrastructure, noting that the government remains focused on strengthening the country’s resilience amid global economic uncertainty.
The Prime Minister also outlined expanded social programs. According to the government, more than 19,000 secondary school students currently receive partial or full financial assistance, and beginning in the upcoming school year, over 60% of Belize’s secondary school population is expected to effectively benefit from free education. The Education Upliftment Project (EUp): Together We Rise is also being expanded to additional secondary schools nationwide. In addition, the National Healthy Start Feeding Program will continue to grow, providing meals to approximately 20,000 students nationwide.
The proposed budget aims for a primary surplus of 1.1% of GDP and an overall deficit of 1.49%, with financing needs estimated at $251 million. Major capital investments include $57 million to expand the National Health Insurance (NHI) program to the Cayo District, upgrades to major roadways, such as the George Price Highway, and other infrastructure improvements.
Among the health sector investments is $19.1 million allocated to the construction of a state-of-the-art hospital in San Pedro Town, to be funded through a grant from the Republic of China (Taiwan). The project is expected to strengthen medical services for residents of Ambergris Caye and nearby communities.
The government’s medium-term fiscal plan aims to bring down public debt to below 50% of GDP by 2030, supported by reforms in tax administration and pension management. Economic growth is projected at 2.3% in 2026, with officials noting that sustained progress will rely on stable global economic conditions.
Prime Minister Briceño finished his speech by saying, “I am convinced that our best days are ahead of us. And with the guidance of the Almighty, we will not stand still but move boldly towards tomorrow,” before presenting the budget recommendations to members of the House of Representatives for their support.
Read a full transcript of Prime Minister Hon. John Briceño’s Budget Presentation for the Financial Year 2026/2027 at https://shorturl.at/Qaptg
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