Belize’s Economic Boom, Is it True Growth or Illusion?

The economy is booming, or so the numbers suggest. For the third year in a row, the International Monetary Fund has given us top marks, with growth hitting a little over eight percent last year and more expansion expected this year. According to the Briceno administration, employment is over ninety-five percent, a figure unheard of in recent memory. In fact, Prime Minister Briceno says businesses are struggling to find workers. Sounds like a success story, right? But here’s our question: what does this really mean for ordinary people, and how sustainable is it?

 

Prime Minister John Briceño

“So high have we soared that for the third year running, the IMF’s report card could hardly have been more positive. 2024 growth stood at 8.1 percent, with the first half of the year projected for further expansion. For the first time in living memory, employment has surged to over 95 percent, with widespread reports of worker shortages in the private sector. Employers looking for workers and not workers looking for jobs. How unusual is that? “