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Belize: Recent Economic Developments
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 1996: Issue 049
Language:
English
Publication Date:
21 Jun 1996
DOI:
https://doi.org/10.5089/9781451805406.002
ISBN:
9781451805406
ISSN:
1934-7685
Pages:
97
Keywords:
ISCR; CR; U.S. dollar; debt service; interest rate; commercial bank; income tax; last quarter; free market; rate of return; primary sector; textile company; EPZ firm; Public sector; Exports; Agricultural commodities; Imports; Commercial banks; Central America
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This paper describes economic developments in Belize during the 1990s. Following a strong performance in the late 1980s, Belize’s economy weakened in 1991–93, mainly because of a substantial deterioration in the fiscal position. The overall deficit of the nonfinancial public sector increased from ½ percent of GDP in FY1990/91 to about 7½ percent in FY1992/93 owing to a substantial increase in the government wage bill and in domestically financed capital outlays. The net domestic assets of the financial system increased by about 20 percent a year during 1991–93.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund