
Macro - Country Economic Forecasts - Belize
Description
Macro - Country Economic Forecasts - Belize
Belize's economic growth rebounded by a stronger-than-expected 10% last year as easing travel restrictions supported the recovery of tourism-related services and the broader economy. We expect a stronger external sector to support a 5.8% GDP expansion this year and 3.4% in 2023. However, risks to the outlook remain tilted to the downside as the recovery to pre-pandemic levels is still dependent on tourism and the country remains highly vulnerable to weather shocks.
Belize's economic growth rebounded by a stronger-than-expected 10% last year as easing travel restrictions supported the recovery of tourism-related services and the broader economy. We expect a stronger external sector to support a 5.8% GDP expansion this year and 3.4% in 2023. However, risks to the outlook remain tilted to the downside as the recovery to pre-pandemic levels is still dependent on tourism and the country remains highly vulnerable to weather shocks.
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