IMF predicting continued economic growth for Belize

BELMOPAN, Belize, CMC – The International Monetary Fund says Belize is expected to see economic growth in 2013 after the country experienced economic activity last year as a result of a strong rebound in agriculture and services. Gerardo Peraza, who headed an IMF mission to the Caribbean Community (CARICOM) country to conduct its yearly review of the country’s economy, said in 2012, economic activity accelerated thanks to a strong rebound in agriculture and services, despite a sharp decline in crude oil production. He said output growth is estimated at 5.3 per cent of Gross Domestic Product (GDP), led by a recovery from the 2011 effects of weather-related damages to commodity exports.