Disclaimer

 The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website. Through this website you are able to link to other websites which are not under the control of Ministry of Finance. We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them. Every effort is made to keep the website up and running smoothly. However, The Ministry of finance takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

  • What is the core responsibility of the Ministry of Finance +

    The core responsibility of the Ministry of Finance can be described as enforcing the fiscal policy as directed by Cabinet. The Ministry does this by ensuring that revenue collections through the main revenue departments are enough to cover the recurrent expenditure and the capital II expenditure. For example, the current fiscal policy aims to achieve a Primary Surplus of 2% of GDP and an overall deficit of 2% of GDP.  One of the principal responsibilities of the Ministry of Finance is also to manage the public debt and especially Central Government debt. The Ministry ensures that debt service payments (payments of interest and principal) are made on a timely basis and liaises with the Central Bank of Belize to ensure that there is enough foreign exchange to meet external debt service. The debt service is tied to the disbursement of new loans as these disbursements finance Cap. III activities of the government and help contain the overall deficit at a certain level – at the moment at the projected 2% of GDP. Current disbursement of loans also help provide the foreign exchange (usually United States dollars) to service especially the repayment of principal. When the principal payments are more than the disbursements of new loans the situation is classified as there being a net outflow of capital and vice versa. Another of the core responsibilities of the Ministry of Finance is to prepare the annual Budget Estimates of Revenue and Expenditure. Work on the Budget usually commences with the issue of a calendar of activities that begins with the “Budget Call” and ends with the Appropriation Act which authorizes the Government of Belize to spend proceeds from the Consolidated Revenue Fund. …
  • What is the main source of revenue for the Government of Belize? +

    The Government of Belize relies on taxes to finance its operations. The three main revenue earners are Income Taxes, Custom Duties and General Sales Tax.  Of recent an important source of revenue has become the royalties received from petroleum operations but these are expected to decline as the extraction of crude also declines.  …
  • What would cause our currency to devalue? +

    In short devaluation could be caused when the public (private sector and government) no longer has confidence that the exchange rate of US $1.00 = BZ $2.00 can continue. This, however, depends on general equilibriums in the monetary, fiscal and balance of payment of the economy.    It has been argued that the main monetary policy of the Government of Belize (via the Central Bank of Belize) is to maintain the parity of the Belize Dollar. In this scenario the Central Bank would most certainly intervene in the foreign exchange markets to stabilize the exchange rate if the need arises.  There would also be fiscal policy measures geared at removing pressure on the foreign exchange rate. …
  • How can citizens of Belize help to keep our Belizean currency strong? +

    By buying products made in Belize and by being a tourist in your own country. In short,  by keeping your “dollars at home”. …
  • What actions contribute to the devaluation of the Belizean currency? +

    One of the actions is a strong import demand that would lead to a strong demand of foreign currency. …
  • 1
  • 2

_______________________________________________________________________________________________________________

Contact Us: Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Call Us+ (501) - 822-2362 / 822-2152 / 58 / 69
Fax: + (501) - 822-2886
Designed by: National ICT Center  © Belize National ICT Center 2012. All rights reserved:  Disclaimer