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Belize: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Excutive Director for Belize
Author:
International Monetary Fund. Western Hemisphere Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2016: Issue 334
Language:
English
Publication Date:
27 Oct 2016
DOI:
https://doi.org/10.5089/9781475547986.002
ISBN:
9781475547986
ISSN:
1934-7685
Pages:
84
Keywords:
ISCR; CR; tax clearance certificate; tax clearance requirement; certificate; income tax tax office; staff appraisal; BTL share; Fiscal stance; Public sector; Global; Caribbean
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This 2016 Article IV Consultation highlights that the economy of Belize is facing multiple challenges. GDP growth slowed to 1 percent in 2015 owing to falling oil production and reduced output in the primary commodity sectors, and turned to negative 1.5 percent in the first half of 2016 relative to the same period in 2015. The decline in oil and other commodity prices led to deflation in 2015. GDP is projected to decline by 1.5 percent in 2016. The current account deficit would slowly improve owing to a gradual recovery in major commodity exports, but would remain high, indicating a weak external position.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund