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Belize Develops Growth and Poverty Reduction Strategy

Posted by Grand Baymen on Nov 26, 2013 8:19:44 AM
Grand Baymen

The government of Belize has happily announced that it is developing a Growth and Poverty Reduction Strategy that will run between 2014 and 2017. For residents of San Pedro Town and other local areas, the report will be welcome news and offers assurances that the well-being of Belize’s citizens remains a top priority of the government.

Working alongside the United Nations Development Program, the Ministry of Finance and Economic Development is developing a number of medium-term strategies to ensure that Belize continues to grow and prosper, while ensuring that citizens are cared for and looked after. The foundation of the strategies is to maintain the emphasis of the Horizon 2030 vision that reads: “Belize is a country of peace and tranquility, where citizens live in harmony with the natural environment and enjoy a high quality of life. Belizeans are an energetic, resourceful and independent people looking after their own development in a sustainable way.”

To achieve this vision, a lot of work is needed to ensure that medium-term strategies are developed that can work alongside maintaining yearly budgets and implementing the appropriate evaluation frameworks. Therefore, part of the Growth and Poverty Reduction Strategy will be to address the government’s budgeting process to ensure that money is funneled into the right areas. The complex process will include identifying the achievements the government wants to accomplish, whilst also highlighting critical root problems that are currently stymieing forwards movement. Eventually, it’s hoped that the strategy will come to fruition and see physical impacts in communities throughout Belize.

A diverse group of officials will help to develop the Growth and Poverty Reduction Strategy, including those from the Budget Unit of the Ministry of Finance and Economic Development, the Central Bank of Belize, the Policy and Planning Unit, and the Statistical Institute of Belize. Â To help draw up the strategy, the Belizean government has also secured the support of Mr. Kent Vital, a Caribbean economist. The highly-commended former employee from the Caribbean Development Bank will be on hand to guide officials as they seek to sort through the complex issues needed to develop a comprehensive and watertight strategy for the years ahead.

While it may take some time for residents to notice any effect from the medium-term strategies, it’s believed the plans will have a positive outcome for Belize’s economy and people.


Topics: Living In Belize

Grand Baymen

Written by Grand Baymen

The Grand Baymen Community includes three distinct but complimentary properties that cater to tourists, expats and Ambergris Caye residents alike. Baymen Garden Condominiums – A private, secure condominium community located on a four-acre parcel of property. Exotic Caye Beach Resort – An established, popular beach resort that caters to tourists and residents alike. San Pedro Fitness Club – Ambergris Caye’s premier club - with pool, tennis courts and gym.