Belize’s economic rebound among hemisphere’s best, says PM Briceño after 8.2% GDP growth in 2024

Published by [email protected] at May 12, 2025

Posted: Monday, May 12, 2025. 6:43 pm CST.

By Breaking Belize News Staff: In his annual budget address in Belmopan on Monday, Prime Minister John Briceño proclaimed a dramatic economic turnaround for Belize, citing 2024’s 8.2% GDP growth, the second highest in the Western Hemisphere. Only Guyana, buoyed by oil revenues, recorded higher growth.

Briceño emphasized that this performance marks a shift “from promise to performance,” contrasting the current stability with the “crisis conditions” his administration inherited in 2020—when GDP had shrunk by over 14%, debt had ballooned to 132% of GDP, and Belize faced threats of devaluation.

Today, public debt has been reduced to 61% of GDP, seven years ahead of IMF forecasts. The country has also recorded four consecutive years of primary budget surpluses, and foreign reserves now exceed $2.2 billion. “We have not just stabilized the economy; we’ve made it thrive,” Briceño said.

Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Belize ~ We offer fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Belize and abroad! Contact us at mаrkеtіng@brеаkіngbеlіzеnеwѕ.соm or call us at 501-612-0315.