BELIZE CITY, Thurs. July 16, 2020– On 15th July, 2020, via Circular Memorandum No. 26 of 2020, the Chief Executive Officer of the Ministry of the Public Service, Energy and Public Utilities, Dr. Peter Allen, informed the different government ministries of more cost-saving measures that the Ministry of Finance has decided they must put into effect as a result of the harsh effects the COVID-19 pandemic is having on the economy of Belize.

The cuts are to be made in the amount of money spent by the various government ministries for the rental of office spaces and dwelling quarters, and these ministries will be expected to negotiate a percentage cut with property owners for fiscal year 2020/21.

The aim is to cut monthly payments for office spaces in the $1,000 to $2,500 range by 5%, those in the $2,501 to $5,000 range by 7%, those in the $5,501 to $8,000 range by 9%, those in the $8,001 to $10,500 range by 11%, and office space that is rented for $10,500 or more, by 12%.

The percentage cut the government expects to be made for rental of dwelling quarters is 5% for properties being rented for $1,000 to $2,500, and 7% for properties being rented for $2,501 to $5,000. If landlords refuse to accept what government is willing to pay for the rental of their properties in 2020/21, ministries are advised to seek alternative spaces to rent.