BELIZE
ECONOMY |
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| The small, essentially private enterprise economy is based primarily on
agriculture, agro-based industry, and merchandising, with tourism and
construction assuming greater importance. Sugar, the chief crop, accounts
for nearly half of exports, while the banana industry is the country's
largest employer. Citrus production has become a major industry along the
Hummingbird Highway. |
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| The government's expansionary monetary and fiscal policies, initiated in
September 1998, led to GDP growth of 6.4% in 1999 and 10.5% in 2000. Growth
decelerated in 2001 to 3% due to the global slowdown and severe hurricane
damage to agriculture, fishing, and tourism. Major concerns continue to be
the rapidly expanding trade deficit and foreign debt. A key short-term
objective remains the reduction of poverty with the help of international
donors. |
