The Belize Herald

Daily News from Belize

Economy

Inflation Highest in Twin Town of San Ignacio/Santa Elena

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Snapshot September 2018 inflation figures
A snapshot of inflation figures per region, provided by SIB, shows that inflation is San Ignacio/Santa Elena is considerably higher than is the case in the rest of the country. Photo: SIB

Belmopan- Figures from the Statistical Institute of Belize (SIB) shows that the overall Consumer Price Index (CPI) in the month of September 2018 stood at 105.4; a 1% increase compared to September 2017.

The variation in CPI per region is however considerable. According to SIB, the twin town of San Ignacio/Santa Elena shows the highest level of price inflation, namely 2.9%. The higher rate of inflation in this region, according to SIB, is mainly due to higher rents in the area.

Dangriga Town on the other hand registered the lowest rate of inflation, with prices actually decreasing 0.6% in the month of September 2018.

The single item which shows the biggest price increase in 2018 for now are pineapples which went up by over 21% compared to a year earlier, while sweet pepper went down by nearly 22% compared to a year ago.

Belize 125th of 190 countries Measured in World Bank Doing Business Report

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ease_of_doing_business
Belize dropped 4 places on the list compared to last year’s ranking, but there are positive developments.

Belmopan- 2018. On Wednesday, October 31, 2018, the World Bank released its annual Doing Business report, which ranks countries based on their regulations and other barriers to business activity. This year, Belize ranks 125th out of the 190 countries measured, which is a four-point decrease from the previous year’s ranking.

When compared to other CARICOM countries, Belize continues to rank in the middle, after the Bahamas and ahead of Barbados. Jamaica tops the region at 75 and Haiti is last at 182.

“While Belize’s rank has fluctuated over the past few years, this is not indicative of a lack of progress that is being made on the ground since policy reform and systemic improvements often require time to materialize,” said Mr. Ishmael Quiroz, Executive Director of the Economic Development Council (EDC).

The EDC is tasked with promoting dialogue, meaningful communication, and partnership between the government and the private-sector with the objective of addressing economic development challenges and opportunities affecting the ease of doing business in Belize.

Recent accomplishments in the areas covered by the Doing Business Report include advancing Belize’s eGoverment strategy for delivering public services via online platforms, amending the Belize Building Act to clarify the roles and responsibilities of the Central Building Authority (national regulator) and those of the Local Building Units (municipalities) thereby leading to greater efficiencies in applying for construction permits.

The Trade License regime has also been under revision with the objective of introducing standardized application and transparency thereby allowing predictability, better forecasting and planning as well as improvement in moving funds nationally due to the enactment of the National Payment System Act, for automatic cheque payment processing led by the Central Bank of Belize.

Reforms are critical
Reforms such as these are critical for a country to receive a higher rank in the Doing Business report, however, since many of Belize’s reforms are new or ongoing, it is not until subsequent cycles of the report that they will be reflected in improved country performance.

The report’s goal is to inspire regulation that is efficient, accessible, and implemented in simple ways to facilitate business activity.

The EDC commends the line ministries, departments and regulatory agencies that are serious about reform, and invites everyone to continue supporting the advancement of Belize’s business climate. Much work still needs to be done to increase Belize’s rankings in the Doing Business report and this can only be achieved through conscious and committed effort by all relevant institutions. Recent reforms, ongoing regulatory upgrades, and continued collaboration between the government and private-sector reveal a country that is eager to improve.

Sugar Mainly Responsible for Drop in Domestic Exports September

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sugar cane
Revenues from sugar fell
significantly by 27.2 percent in the month of September.

Belmopan- Diminished returns from sugar was the principal cause of the decline in export earnings for the month of September 2018.

Although exported volumes of this commodity saw only a slight 3.3 percent drop compared to September of last year, revenues from that commodity fell significantly by 27.2 percent, from $28.5 million to $20.7 million, as bulk sugar was sold for noticeably less on the European market compared to last September.

According to figures by the Statistical Institute of Belize ((SIB) Bananas saw a smaller reduction in earnings for the month of September, falling by less than a million, from $8 million in September 2017 to $7.1 million in the same month this year, while revenues for citrus products remained virtually unchanged at approximately $3.6 million.

Marine products show increase
Among the major commodities, marine products recorded the only increase in September, as export earnings for rose from $2.3 million to $3.1 million, due to boosted sales of whole lobsters, lobster meat and shrimp. Molasses and sawn wood, while not classified as major exports, fell sharply in the month, resulting in a combined revenue loss of $2.2 million when compared to September 2017.

Walk-trough Tour of Renovated Court Building

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Walk through of renovated court
The renovations to the Supreme Court are a part of a larger investment being conducted in the downtown area of Belize City. Photo; GOB

Belize City- In August of this year, the Ministry of Tourism and Civil Aviation through the Belize City House of Culture and Downtown Rejuvenation Project commenced rehabilitation works at the Belize Supreme Court. On Tuesday, October 30th, government officials and invited guests viewed the completion of the much-needed rehabilitation works during a walk-through of the court.

The rehabilitation works included roof repairs, ceiling and associated electrical works, minor repairs to the air condition system, painting of the Cupula, and termite treatment. The works were made possible by a $60, 912.50 contribution by the Downtown Rejuvenation Project in addition to counterpart contribution by the Belize Supreme Court. Chief Justice Kenneth Benjamin remarked that he was especially grateful for the repairs to the ceiling which had been caving-in.

Part of larger downtown are investment
The renovations to the Supreme Court are a part of a larger investment being conducted in the downtown area of Belize City. The project is funded by the Government of Belize and the Taiwan International Cooperation and Development Fund (ICDF) and executed by the Ministry of Tourism and Civil Aviation through the Belize City House of Culture and Downtown Rejuvenation Project. Partners of the project include the National Institute of Culture & History (NICH) and the Belize City Council.

Also present at the walk-through were Mr. Yashin Dujon, Chief Executive Officer in the Ministry of Tourism and Civil Aviation; Hon. Tracy Taegar-Panton, Minister with responsibility for the Ministry of Investment, Trade and Commerce; His Lordship Kenneth Benjamin, Chief Justice; Ms. Trinia Young, Registrar of Supreme Court; Mrs. Bi-Yin Chien, Deputy Council at the Embassy of the Republic of China (Taiwan); and Mr. John Arana, Director of the Belize City House of Culture and Downtown Rejuvenation Project.

BAHA Food Safety Laboratory Receives Accreditation

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BAHA building
The recognition was conferred by the Jamaica National Agency for Accreditation (JANAAC)

Belmopan- The Belize Agricultural Health Authority (BAHA) is pleased to announce accreditation of its Food Safety Laboratory, the Central Investigation Laboratory (CIL), to ISO/IEC 17025:2005, international standard for Competence of Testing Laboratories. This recognition was conferred by the Jamaica National Agency for Accreditation (JANAAC) effective August 17, 2018.

BAHA says they are proud to offer greater assurance to our customers in the quality of our testing services. According to BAHA their success in this endeavor is a measure of BAHA’s commitment to quality infrastructure and customer satisfaction.

BAHA also states that they will continue to strive for excellence with their ongoing efforts to improve the quality and scope of its laboratory testing services. BAHA also stresses that they remain faithfully committed to fulfilling their mandate to the people of Belize, local producers, exporters, importers, trading partners and collaborators.

BAHA management said to be thankful to the donors and collaborators who helped to make this achievement a reality: The Inter-American Institute for Cooperation in Agriculture (IICA), the Caribbean Regional Organization for Standards and Quality (CROSQ), Organizacion Internacional Regional de Salud Agropecauria (OIRSA), the International Atomic Energy Agency (IAEA), the European Union and the Government of Belize.

CARICOM Energy Month Launches Friday in Montserrat

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Caricomo Energy Month
The CARICOM Energy Month (CEM), will be launched November 2nd, in Brades, Montserrat, this year. Photo: CARICOM Today

Georgetown, Guyana- CARICOM Energy Month (CEM), will be launched 2 November, in Brades, Montserrat, with a focus on empowering youths for a sustainable energy future. The launch includes a symposium featuring a panel discussion on geothermal energy, energy conservation measures and electric vehicles.

The Month is observed in November each year. It serves to increase awareness of energy matters in the Caribbean Community (CARICOM) and celebrate the strides the Community has made to transition to a clean energy pathway. The Month of activities evolved from CARICOM Energy Week (CEW) which was established in 2011. Since its inauguration in 2016, CEM has become the seminal event on the calendar of energy stakeholders including academia, policy-makers, the private sector, youth, and development partners.

The ultimate goal is to achieve long-term, lasting behavioral changes. A wide cross-section of society and stakeholders will be engaged to ensure that individuals and organizations understand the impacts of, and take action to respond to critical energy issues.

New Bloodline of Breeding Sheep Imported by Ministry of Agriculture

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imported sheep
A total of 15 Barbados Black Belly Sheep and 6 Katahdin Sheep were imported from the United States of America. Photo: GOB.

Belmopan- The Ministry of Agriculture has imported a total of 15 Barbados Black Belly Sheep and 6 Katahdin Sheep from the United States of America. Thus far, a total of 66 sheep have been imported as breeding stock at Central Farm Livestock Section in the Cayo District.

The breeding stocks will be incorporated in the ‘National Sheep and Goat Breeding Center’s program’ to consistently provide certified breeding animals to sheep breeders. This will play a vital role in the diversity of bloodline to improve the genetics of sheep in Belize and to establish a Breeding Stock Certification program. In accordance with the Belize Agricultural Health Authority (BAHA) regulation for the importation of live animals, the newly-imported sheep are presently on a 30-day quarantine at Central Farm.

A three-year cooperation agreement in Genetic Improvement in Sheep and Goat Project was signed in December 2015 between the Government of the Republic of China (Taiwan) and the Government of Belize with the objective to increase the productivity of sheep by improving the National Breeding Center infrastructure at Central Farm, importing new breeding stocks, and conducting workshops for farmers and technicians.

Fuel Prices Biggest Factor in Increased Consumer Prices June

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Fruit and vegetable market in Belmopan foto HL
Apart from fuel prices, fruit and vegetable prices also rose quite sharply, compared to 1 year ago. Photo: Harald Linkels

Belmopan- Rising fuel costs have had quite an impact on the development of the Consumer Price Index (CPI) in the country. While overall prices increased about 0.6% for the month of June, higher prices of especially fuels, let to a price increase of 4.5% in the Transport sector, according to figures from the Statistical Institute of Belize (SIB).

In the Fuel & Lubricant subsection, prices rose no less than 10.3%, compared to 2017. Gasoline increased 10.5% in price and the prices for diesel fuel went up as much as 20.6%.

Air transportation costs, which for the year had seen a decline until now, also rose 3.6% in comparison to June 2017.

On the other hand, food prices declined a bit in the month of July, with a decrease of 0.6%. Especially meats were cheaper in June 2018, but on the other hand food and vegetables became more than 12% more expensive compared to a year ago. The biggest jump in fruit prices could be seen in pineapples, which were a whopping 22% more expensive compared June 2017.

Progress Made With Sheep and Goat Certification Program

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Sheep and goat certification program
The Livestock Unit of the Ministry of Agriculture participated in the 54th Caribbean Food Crops Society Poster Presentation at the Princess Ramada Hotel in Belize City. Photo: GOB
Belmopan -The Livestock Unit of the Ministry of Agriculture, through the Genetic Improvement in Sheep and Goat Project, participated in the 54th Caribbean Food Crops Society Poster Presentation along with international presenters on July 10th, 2018 at the Princess Ramada Hotel in Belize City.

The unit’s poster showcased the Breeding Certification System on Small Ruminants and highlighted the main steps of the certification program, which includes the protocol for registration and certification of the breeding stocks, the breed types, the partners comprising the Certification Committee as well as defined the blood registration for up to three generation pedigree.

The Sheep Project, funded by Republic of China (Taiwan) in cooperation with Government of Belize, has been actively engaged in implementing the project’s main goals. Since its inception in December 2015, the Sheep Project has completed some of its main goals, which include the expansion of the infrastructure for the National Sheep and Goat Breeding Center housing facility, pasture and protein bank expansion, and the introduction of new sheep breed genetics from the United States of America.

Additionally, the Sheep Project has contributed to the development of the Sheep and Goat Certification Program for the sheep industry in Belize, specifically to assist the acceleration of genetic improvement, credibility and value of breeds at sheep-breeding farms countrywide. For this to be effective, the Belize Sheep/Goat Certification Committee was tasked with the responsibility to appraise the registration and certification, the application documents, review and issuance of certificates.

68 imported sheep of three different breeds, namely Katahdin, Dorper and Barbados Blackbelly, have been granted certification. 19 young lambs, offspring from the local basal registered ewes, also qualified and are confirmed for registration.

The Government of Belize with the support of the Government of the Republic of China (Taiwan), through the Genetic Improvement in Sheep and Goat Project, is committed to improving the overall genetics in sheep through the importation and introduction of quality breeding stock, and the installment of a certification program to ensure the quality of the breeding stocks remain pure for up to three generations pedigree.

Gasoline 13 Cents Cheaper as of Tomorrow, July 10

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pump prices finally edge lower per July 10
There is finally some relief for motorists, as gas prices edge lower. Photo: GOB

Belmopan- Gas prices in the country are finally edging lower, with the price for kerosine showing the biggest drop. As of tomorrow, regular gas will also cost 13 cents less than it did until today. As of tomorrow regular gasoline will cost $10.89 per gallon.

The pump price for Kerosene will decrease by 43 cents per gallon in Belize City to a new price of $8.21 per gallon.

According to the Government of Belize (GOB) the price decrease has come about as a result of a shipment that was procured by PUMA earlier last month when global oil prices were still declining.

The pump prices of Premium Gasoline and Diesel Oil will however remain unchanged.

According to the GOB, with the step-up in oil production planned by Saudi Arabia and Russia in the coming months, the decrease in fuel prices that Belize observed in recent shipments may be stabilizing, as the world market price of crude oil is expected to trend upwards with the expected higher oil output.

The GOB says they will continue to monitor the situation very closely and will remain engaged with PUMA and other stakeholders involved in the local supply chain to work out ways to keep prices in check as much as possible.