Belize: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belize

May 12, 2023

Preview Citation

Format: Chicago

Belize: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belize, (USA: International Monetary Fund, 2023) accessed September 20, 2024

Summary

Outlook and Risks. Economic activity is projected to moderate after a strong recovery from the pandemic. After growing by 15 percent in 2021 and 12 percent in 2022, real GDP is projected to grow by 2.4 percent in 2023 and 2.0 percent over the medium term as spare capacity is exhausted. Revenue growth and fiscal consolidation have increased the primary balance to 1.2 percent of GDP from FY2022 onwards, which is projected to reduce public debt from 64 percent of GDP in 2022 to 53 percent in 2028. Risks to the outlook are tilted to the downside, including a sharp slowdown in advanced economies, further increases in commodity prices, and climate-related disasters.

Subject: Economic sectors, Expenditure, Fiscal policy, Fiscal stance, International organization, Monetary policy, Public debt, Public sector, Revenue administration

Keywords: Authorities of Belize, Authorities project growth, Caribbean, Currency peg, Fiscal stance, Global, Public sector, Reform agenda, Terrorism financing risk

Publication Details

Pages:

67
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/164
Stock No:

1BLZEA2023001
ISBN:

9798400242151
ISSN:

1934-7685

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