Minister Warns of Fuel Cost Impact from Global Crises

While the Briceno Administration is being pressured for increases in wages for public officers, on a global scale, there are looming concerns.  With the waged war between Israel and Iran and the ongoing feud with Russia and Ukraine, Belize stands to experience some trickling effects of these international incidents.  One such effect would be the cost of fuel.  The government has long reported on its dependency on the fuel taxes when asked if the prices would ever be adjusted.  The Minister of State for Finance reiterated this stance earlier this week in an interview with the media.

Christopher Coye, Minister of State (Finance): “In terms of fuel there are shifts upwards and downwards and with respect to the fuel and the tax revenues from fuel that is adjusted having regard to those changes in fuel prices. But at the same time the government does have to generate tax revenues to pay for all the expense including the proposed salary increases.”