Realizing the Possibilities: Belize Budget Presentation For Fiscal Year 2008/2009

The US sub-prime mortgage market and the consequential housing downturn are likely to have a negative impact on economic growth in Belize and other CARICOM and Central American countries this year, since these economies are heavily dependent on imports and external demand for goods and services, including tourism. Continued increases in international oil prices combined with a slowing of inflows from the tourism sector would make it extremely difficult for these economies to maintain stability in the balance of payments.