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Nov 22, 2019

Revenue Expected to Take a Hit Due to Drought

Joseph Waight

The Statistical Institute of Belize continues to issue quarterly releases on the country’s economic performance.  While G.D.P. estimates for the third quarter will be shared during S.I.B.’s final press conference for the year on November twenty-seventh, Financial Secretary Joseph Waight forewarned on Thursday that revenue will be adversely impacted as a result of the drought that Belize experienced recently. 

 

Joseph Waight, Financial Secretary

“The economy, of course we would like to see more growth, I mean we realized that the drought has set us back.  That will have a revenue impact and we’re still trying to maintain within budget, trying to generate the surpluses that we need to pay down our debt.  The debt is stable, it’s still at around ninety or ninety-two percent of GDP, we’re borrowing only on concessionary basis and we’re trying to fashion the spending and the budget remain within these and to generate enough surplus so that we can pay down our debt.”


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