Belize Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Belize's budget deficit was -1.13% in 2025, ranked 47th globally. This represents a 8.2% increase from 2024. Data from IMF WEO, covering 1996–2025.
Overview
Belize's budget deficit stood at -1.13% in 2025, a rise of +0.10% from 2024. The IMF projects -1.13% by 2025. Belize ranked 47th globally.
Belize’s primary budget deficit has narrowed to –1.13 % of GDP in 2025, ranking it 47th globally, after a long‑term decline from the 30‑year high of –1.76 % recorded in 1996. The most acute fiscal imbalance occurred in 2020, when the deficit plunged to –8.57 % of GDP amid the pandemic‑induced slowdown, before rebounding to a modest surplus of 1.25 % in 2008, the only positive reading in the series. The current deficit sits close to Iceland’s –1.14 % and Luxembourg’s –1.06 %, suggesting that Belize’s fiscal stance is comparable to small open economies that have pursued disciplined expenditure cuts and revenue reforms. The gradual improvement reflects tighter fiscal rules and a recovering tourism sector, yet any resurgence of external shocks or a slowdown in fiscal consolidation could reverse the trend. Continued prudence in spending and diversification of revenue sources will be crucial to sustain the modest deficit reduction.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -1.55% | - | - |
| 2029* IMF | -1.60% | - | - |
| 2028* IMF | -1.70% | - | - |
| 2027* IMF | -1.81% | - | - |
| 2026* IMF | -1.51% | - | - |
| 2025* IMF | -1.13% | - | - |
| 2025 | -1.13% | +0.10% | #47 |
| 2024 | -1.23% | +1.19% | #132 |
| 2023 | -2.42% | −1.38% | #103 |
| 2022 | -1.04% | +2.25% | #127 |
| 2021 | -3.29% | +5.28% | #105 |
| 2020 | -8.57% | −5.67% | #55 |
| 2019 | -2.90% | −1.54% | #70 |
| 2018 | -1.37% | +2.12% | #103 |
| 2017 | -3.48% | +0.99% | #59 |
| 2016 | -4.47% | +0.67% | #55 |
| 2015 | -5.14% | −3.42% | #46 |
| 2014 | -1.72% | −0.52% | #124 |
| 2013 | -1.21% | −0.98% | #128 |
| 2012 | -0.22% | +0.83% | #138 |
| 2011 | -1.06% | +0.85% | #122 |
Detected Pattern
Analysis
Belize matched the Export Boom Cycle pattern in 1990. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Belize's budget deficit was -1.13% in 2025. Ranked 47th globally. This represents a 8.2% increase from the previous year.
Belize's budget deficit peaked at 1.25% in 2008.
The lowest budget deficit in Belize was -8.57% in 2020.
Belize ranks 47th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Belize's budget deficit is projected to reach -1.13% by 2025 based on IMF projection.
The budget deficit of Belize in 2025 was -1.13%. This ranks 47th in the world.
Cite this page
@misc{historysaid_belize_budget-deficit,
title = {Belize Budget Deficit},
url = {https://historysaid.com/belize/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}