PM Briceño: “Inflation is down.” 

As he continued his State of the Nation address, Prime Minister John Briceño said, “Gross domestic production as of the end of 2023 has now surpassed $6 billion, the highest level in the country’s history, and in the first quarter of this year by another 10%. and the conditions for the continued expansions are compelling.”

Briceño added, “Inflation is down, falling from 6.3% in 2022 to 3.8% in 2024.” He said that bank sector liquidity is abundant, exceeding $800 million. “The Belizean dollar is stronger with over $1.9 billion in foreign assets, and the public finances have been transformed. In just four years, with public debt down to 63% of GDP from 130% in 2020, fortified by a primary budget surplus of 1% of GDP.”

According to Briceño, since November 2020, the Government of Belize has continuously transformed its investment program strategy to attract more foreign investment growth. “The latest Central Bank reports state that total FDI inflows for 2023 stood at 320.2 million USD and in the first quarter of 2024 already stood at 194 million USD. Briceño said this indicated that at the end of 2024 FDI inflows will surpass the 2023 totals by approximately 20%.