1945

The continued impact of the floods of 2008 and the contagion from recessionary conditions in major markets led to a retreat from sound growth in 2008 (3.8%) to no growth (0%) in 2009. Nevertheless, this leaves Belize as one of the better performers in the Caribbean, given the pervasive downturn in the region. The primary goods and services sectors took the brunt of the impact, with contractions of 2.4% and 1.4%, respectively. Owing to lower fuel and food prices and sluggish internal demand, Belize experienced deflation of 0.4% in 2009 following price rises of 4.4% in 2008.

Related Subject(s): Economic and Social Development
Countries: Belize
/content/books/9789210545808s007-c003
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