Belize: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Excutive Director for Belize

October 27, 2016

Preview Citation

Format: Chicago

Belize: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Excutive Director for Belize, (USA: International Monetary Fund, 2016) accessed November 23, 2024

Summary

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.

Subject: Banking, Economic sectors, Expenditure, Fiscal policy, Fiscal stance, Loans, Public debt, Public sector, Revenue administration

Keywords: BTL share, Caribbean, Certificate, CR, Fiscal stance, Global, Income tax tax office, ISCR, Public sector, Staff appraisal, Tax clearance certificate, Tax clearance requirement

Publication Details

Pages:

84
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/334
Stock No:

1BLZEA2016003
ISBN:

9781475547986
ISSN:

1934-7685

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