We asked the Minister of State in the Ministry of Finance about the state of Belize's economy, and what we can expect in terms of our growth for this year. Last year went better than the IMF predicted and Chris Coye says there's high hopes that this year will see the same result.

Chris Coye - Minister of State, Ministry of Finance
"As we can always speak to, these are projections, what we have experienced in terms of performance over the past year ended 2021, we certainly beat projections, we grew around 10% when the original projections from the IMF was around 2%, elevated to 6, and we ended up at 10%. So we certainly exceeded the estimates, the projections, the expectations of the international financial community. In terms of where we are right now in this current year, I believe that, I think the projections were that we would grow roughly 6% or 6.5% for this current calendar year. I believe we are on target if not a little ahead but the data will be coming out at the end of this month. We are actually going through the SIB, they are actually going through a rebating of our GDP, which will incorporate other sectors that apparently had not been included before. That will have a significant positive effect on our GDP estimates so I think that, besides our actual organic growth, we will see quite a good performance. Now, I don't want to be overly optimistic because we also have headwinds in the sense of inflation and the war in Ukraine and the overall effect that that has on the overall economy, especially our major trading partners but we are doing well and I think we're doing ahead of target at this point in time."

Channel 7