G.O.B.’s “Incredible” Debt to GDP Performance

Now for some more good financial news: the Government of Belize has managed to slash its debt-to-GDP ratio from a whopping one hundred and three percent in 2020 to sixty-four percent in 2024. That’s a huge drop! Michael even called it incredible.

 

Kareem Michael, Governor, Central Bank

“For the past three years the government has kept primary spending below revenue receipts, generating primary surpluses averaging five percent of GDP. When coupled with a growing economy, the debt to GDP ratio, and this is incredibly, has steadily gone down, from a hundred and three percent of GDP at the end of 2020 to sixty-four percent of GDP at the end of September 2024. Over the coming years, the Central Bank expects a higher level of public investment given the urgent need to address challenges linked to the climate resilient infrastructure.”