National Debt (% of GDP): Belize

Analysis# Belize National Debt (% of GDP) Belize's national debt stood at 63.5% of GDP in 2026, marking a significant recovery from its catastrophic 2020 peak of 103%. Since 2001, when debt reached its lowest point of 49.5%, the country has accumulated 28.3 percentage points of additional debt relative to its economy. The current level remains elevated compared to the early 2000s baseline, though it represents substantial progress over the past six years. The most dramatic turning point occurred between 2019 and 2020, when debt spiked 24.4 percentage points amid pandemic-driven economic disruption. Since that 2020 peak, Belize has pursued consistent fiscal consolidation, reducing debt by 39.5 percentage points through 2026. The downward trajectory continues, with projections suggesting further gradual decline as the country maintains its recovery momentum.