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Economy of Belize
Belize is considered a developing country. A nation's stage of development is determined by a number of factors, including economic prosperity, life expectancy, income equality, and quality of life. As a developing country, Belize may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Developing country citizens may have a lower life expectancy than developed country citizens. Belize exports about $ 0.63 billion and imports about $ 0.86 billion each year. 7.6% of the country's population are unemployed. The total number of unemployed in Belize is 29,066. In Belize, 41% of the population live below the poverty line. The proportion of citizens living below the poverty line in Belize is very high compared to other nations. This situation points to a variety of alarming economic and political factors. It is not advisable to invest in countries with this level of poverty. Government spending on education is 5.7% of GDP. The country's Gini index is 53.1. Belize experiences inequality. The gap between the richest and poorest citizens in this country is wide and obvious, resulting in drastically different standards of living for rich and poor citizens. Belize has a Human Development Index (HDI) of 0.732. Belize has an upper mid-range HDI. This suggests that the majority of citizens will be able to live desirable lives, although some citizens will not be able to achieve a high standard of living. The strength of the Legal Rights Index for Belize is 4. Overall, it is viewed as rather inadequate - bankruptcy and collateral laws can protect the rights of borrowers and lenders to a certain extent; Credit information can be sufficient, but hardly available, or, conversely, it can be available but not sufficient.
Сurrency The currency of Belize is the Belize Dollar. The plural form of the word Belize dollar is dollar. The symbol used for this currency is $ and is abbreviated as BZD. The Belize dollar is divided into cents; there are 100 in a dollar.
Сredit rating According to the rating agency S&P, Belize has a credit rating of B- and the outlook for this rating is negative. Belize has a B3 credit rating, according to Moody's, and the outlook for that rating is stable.
Central bank The prime lending rate of Belize's commercial banks is 12. In Belize, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Belize. The average deposit interest rate offered by local banks in Belize is 2.9%.
Public debt Belize has a government debt of 110.% of the country's Gross Domestic Product (GDP), as assessed in 2012.
Tax information The corporate tax in Belize is set at 1.75%. Personal income tax ranges from 0% to 25%, depending on your specific situation and income level. VAT in Belize is 12.5%, and it is known as General Sales Tax.
Finances The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Belize is $2975 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Belize was last recorded at $8 million. PPP in Belize is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Belize is 1,624 billion. Based on this statistic, Belize is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Belize was last recorded at $4 million. The average citizen in Belize has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Belize averaged 2% in 2014. According to this percentage, Belize is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.
