Likely To Outperform The Region

The Belizean economy expanded by 3.0% in 2008, shaking off the impact of two tropical storms that caused economic losses estimated to have totalled US$75mn (5.4% of GDP). This year the global recession will cause a slowdown in the local economy as reduced tourism receipts and remittances will hurt domestic demand in addition to reduced foreign direct investment (FDI) inflows. Partially as a result of favourable base effects, we see Belize outperforming the region this year, with a real GDP contraction of just 0.3%. Indeed, a recovery in the agricultural sector and continued expansion of the energy sector will help

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