And as inflation continues to be a growing concern Meighan also spoke about how the Tariff wars in the north could have potential impacts on Belize's economy and development sector. She says while there isn't a solution to this, there are things we can do as a country to prepare and to minimize the impact.
Katherine Meighan, President, Belize Chamber of Commerce
"An increase in costs and it comes right back to what we were talking about and each country has to do all it can to be able to have the most stable, the most predictable and I know that's a theme of our discussion but it is really important. Stable predictable and growing economy with those challenges that are coming from outside we have to prepare for an environment where things will increase in cost. We are primarily an import driven society. That means where are these items coming from? Many of them even if they are in transit they move from the United States what does that mean? Also there are other angles to that we are so interconnected when it comes to the cost or the details that has to do with where some of these ships that are bringing these items our way are coming from what does that mean when this sort of environment and lack of better way of saying it trade war is really happening around us it means a couple things to me it' means one we need to do a better job at figuring out how we can make our business environment our economy a stable and working as efficiently as possible and secondly we have to start to take the actions of being a preventive type entity or nation so that we can prepare for what is to come because we know it's going to mean an increase in costs."
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