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Business in Belize

 

Economic Overview:

In this small, essentially private-enterprise economy, tourism is the number one foreign exchange earner followed by exports of marine products, citrus, cane sugar, bananas, and garments. The government's expansionary monetary and fiscal policies, initiated in September 1998, led to sturdy GDP growth averaging nearly 4% in 1999-2007, though growth slipped below 3% in 2008 as a result of the global slowdown. Oil discoveries in 2006 bolstered the economic growth. Exploration efforts continue though no new production is expected in 2009. Major concerns continue to be the sizable trade deficit and unsustainable foreign debt equivalent to nearly 90% of GDP. In February 2007, the government restructured nearly all of its public external commercial debt, which will reduce interest payments and relieve liquidity concerns. A key short-term objective remains the reduction of poverty with the help of international donors.

CIA World Factbook

 

Belize Trade and Investment Development Service (Beltraide): www.belizeinvest.org