Belize’s economy posted what Prime Minister John Briceño called a “seminal surge” in 2025: unemployment fell to a historic low of 2.0 percent, down from 2.6 percent the year before; inflation eased to 1.1 percent, down from 3.3 percent in 2024 and the near-record 6.3 percent recorded in 2022; and real GDP grew by 1.9 percent. Growth is projected at 2.3 percent for 2026. Central Bank reserves stand at US$550 million (BZ$1.1 billion), with the Belize dollar firmly pegged to the US dollar at 2:1.
The 2026/27 budget, themed “Budgeting for Belizean Prosperity,” totals BZ$1.902 billion, with revenue and grants projected at BZ$1.792 billion — an 8.5 percent increase year-on-year. Capital investment receives BZ$606.8 million, a record 32 percent of total spending. Public debt has been cut from over 130 percent of GDP to 66.6 percent since the Briceño administration took office in 2020; the government has set a target of below 50 percent by 2030.
The Upliftment Project will expand to 27 secondary schools serving more than 14,000 students, up from 947 students at launch in 2022. All students attending government secondary schools will effectively receive free education starting in the 2026/27 school year, and 83 percent of all secondary students nationwide will receive some form of financial assistance. The National Healthy Start Feeding Programme will provide meals to approximately 20,000 primary and secondary students at a cost of around BZ$10 million.
Major capital projects move forward in parallel. The George Price Highway upgrade is now active across all three project lots; Lot 1 begins civil works in April under a US$34.5 million Caribbean Development Bank loan, and Lot 3 has been underway since January, financed by the Kuwait Fund. The Belcan Bridge replacement, funded by Taiwan at BZ$20 million, begins construction in April; the historic Swing Bridge replacement, backed by BZ$28 million in Japanese grant aid through JICA, breaks ground at the end of March. Government has also announced a BZ$450 million Port of Belize upgrade.
The recently nationalised hydroelectric facilities, rebranded as Hydro Belize Limited, were successfully floated to local investors in a share offer that was oversubscribed and raised BZ$134.8 million. The Briceño administration has framed the result as evidence of domestic investor confidence in the energy transition.
The Belize Tax Service is being transformed into a Semi-Autonomous Revenue Authority, and electronic invoicing will be introduced. Government expects to pay BZ$189.1 million in interest and BZ$140 million in principal repayments in the new fiscal year.
What it means: Belize is delivering economic numbers most of CARICOM would envy: 2.0 percent unemployment, 1.1 percent inflation, public debt cut from 130 to 66 percent of GDP. The fiscal anchor remains debt-servicing pressure and exposure to global fuel-price shocks via tax revenue.