Belize - Public finance



About half of Belize's recurrent expenditures are financed by customs duties; nearly all capital spending is funded by foreign loans and grants. Since an IMF standby stabilization program was implemented in 1985, fiscal responsibility has improved. The government typically budgets over 50% of projected spending to capital development, and raises 60% of current revenues from trade taxes. Government spending accounts typically for almost one-third of GDP.

The US Central Intelligence Agency (CIA) estimates that in 2000 Belize's central government took in revenues of approximately US $186 million and had expenditures of US $253 million. Overall, the government registered a deficit of approximately $67 million. External debt totaled US $500 million.

The following table shows an itemized breakdown of government revenues and expenditures. The percentages were calculated from data reported by the International Monetary Fund. The dollar amounts (millions) are based on the CIA estimates provided above.

Belize

REVENUE AND GRANTS 100.0% 186
Tax revenue 77.4% 144
Non-tax revenue 9.2% 17
Capital revenue 0.7% 1
Grants 12.7% 24
EXPENDITURES 100.0% 253
General public services 11.4% 29
Defense 5.4% 14
Public order and safety 7.1% 18
Education 20.5% 52
Health 8.2% 21
Social security 5.9% 15
Housing and community amenities 2.6% 7
Recreation, cultural, and religious affairs 1.3% 3
Economic affairs and services 28.1% 71
Other expenditures 1.5% 4
Interest payments 8.0% 20
Also read article about Belize from Wikipedia

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