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Significance

Quarantine measures coupled with prolonged dry weather conditions, which have affected energy production and agriculture, have taken a substantial toll on growth already this year. Production was down across all sectors of the economy in the first quarter.

Impacts

Any perceived failings in the government's response to the health crisis could harm it ahead of November's elections.

Foreign exchange reserves have diminished in recent years but are expected to fall sharply in 2020.

InterAmerican Development Bank efforts to revitalise tourism through loans and technical assistance may benefit Belize.

Moderate commodity prices will keep inflation in check through year-end, in turn supporting private consumption.

A predicted stronger-than-usual hurricane season raises risks of further economic damage.

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