Public Debt Holds Steady, But PM Points to Big Economic Growth

Despite concerns about rising debt, Belize’s public debt hasn’t budged much over the past four years. At the end of 2020, it stood just above four billion dollars—and by the close of 2024, it was still in that same ballpark. But Prime Minister John Briceño says there’s more to the story. He credits the country’s growing economy for keeping the debt in check, noting that Belize’s annual economic output surged by 67% during that period. As for how the country is managing its debt, the PM revealed that interest payments alone totaled one hundred and nineteen million dollars last year. He broke down the numbers during his budget presentation, painting a picture of a government trying to balance borrowing with growth.

 

Prime Minister John Briceño

“The external stock of public debt was one point four, five three billion U.S. dollars. Previous governments of both parties have generated burst of economic growth, and in both instances, these have been fueled by material increases in the public debt. Our debt policy is and will continue to be more enlightened. On the public debt, the conversion of promise to performance shines brightly. Government attained a primary surplus of one point four, eight percent of G.D.P., an overall deficit of minus zero point two, six percent.”