Belize’s G.D.P. To Grow by 3.6%

The Preliminary Overview of the 2023 Economies in Latin America and the Caribbean indicates a persistently low growth trajectory in the region. This is according to a report compiled by the United Nations’ Economic Commission for Latin America and the Caribbean. According to the report, Belize’s gross domestic product (G.D.P.) is expected to grow by three point six percent, a decrease from four point eight percent in 2023. Jamaica will see the least growth with one point nine percent, while Guyana is expected to see the biggest increase with twenty-eight point nine percent. The report highlights multiple challenges hindering short-term growth, including a sluggish global economy in terms of G.D.P. growth and trade. The report also states that there is limited room for fiscal and monetary policy maneuvers in the region. Given this context, the commission stressed the importance of macroeconomic policies to stimulate increased investment, fostering resilience to climate change, and enhancing the region’s capacity for sustained growth.