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Belize~ Depression within a depressed Economy

Posted: Thursday, September 28, 2017. 8:45 a.m. CST.

By Richard Harrison: The economy of Belize is depressed….and August to October are the slowest months of the TOURISM INDUSTRY….upon which the entire country increasingly depends….as the other traditional agricultural industries are either compromised in sales….or in profits….mostly because the UDP government have stuck with economic policies of the colony of British Honduras…refusing to adopt and adapt new economic policies for an independent, competitive and productive Belize.

So there is a depression within the depressed economy.

The UDP have proven to be political geniuses….they are good at winning elections….but they are economic and financial nincompoops…the majority of people worse off and a few well-placed political hacks better off.

The back-to-school expenses of August have always been difficult for families…but this year is proving to be one of the worse. This tough period is seeing a lot more hungry bellies going to bed….a lot more people trading their integrity for food.

This is when the drop-out-of-school occurs….but Government of Belize cannot say how many kids did not go back to school. They dont want to know!!

As the government also feels the pinch of these dry months in their revenues….they have raised the price of fuel several times since August 1st…now gasoline at the pump costs the same as when the price of crude oil was US $130 per barrel…..BZ $12.02 (US $6.01) per gallon.

The government has how to raise its income….the laws of taxation…..but the people have no way how to ease their pain…the vast majority are stuck at or near the minimum wage of BZ $3.30 per hour.

The Prime Minister (PM), who is also Minister of Finance, squeezed a promise out of our Venezuelan friends….in a time when their people are under grave suffering…twisting their hands to keep the PetroCaribe concessionary loans rolling. He gained a promise…it will be of the kind he himself have made to Belizeans.

“I will chop corruption with my sharp machete anywhere it appears in my government”…..all Belizeans remember that promise. When he wanted to cover up for Penner he promised the people of Cayo Northeast that they will see the kind of spending of many millions in their area, such as has never been seen before. He promised to get to the bottom of the decapitation murder of Pastor Lucas…nada. He promised the striking BNTU that his government would seek the help of the UN to establish an anti-corruption body in Belize….as well as get the Integrity Commission and Public Accounts Committee fully functional..October will be one year since that promise…and NADA!

He and his cadre of economic and financial geniuses have ran out of tricks….the SuperBond was pushed way down to 2029, as far as it could go….they squeezed another $60 million of loans and grants out of our Taiwanese friends….and they are borrowing as much of the domestic capital that they can put their hands on….offering higher rates….crowding out the private sector.

But the UDP ministers and all their cronies and henchmen are flying all over the world with white powder up their nose and Blue-label whisky on their breath….not a worry in the world. They believe all what the PM said in his Independence Day address on September 21, 2017….that Belize is at the best it has ever been during its 36 years of political independence….that all is fine and dandy….and that they can carry on with their spree.

The blind is leading the blind.

BUT more than a month is left in this depression within the depressed economy….dropping out of school will look like nothing compared to the many acts of desperation that will be committed during this time.

When the leaders have no vision…the people perish.

In a democracy….the people get the governments they deserve.

The views expressed in this article are those of the writer and not necessarily those of Breaking Belize News.

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