What you need to know about Belize’s new housing bubble
The boom in new housing developments is causing an economic headache for the Belizean government.
The country has a population of about 1.4 million people and is home to nearly 10 percent of the world’s population, with about 7.5 percent of Belizeans classified as expatriates.
The economy is expected to grow by about 10 percent this year, according to a recent government forecast.
The economy has already contracted in 2015 by about $2 billion, and there is concern that the economy may not rebound this year.
The government has tried to limit inflationary pressures through a variety of measures.
It is raising the minimum wage and extending subsidies to some sectors, like construction.
And it has tried the most radical measure yet, limiting foreign investment to 30 percent of projects in Belize.
It’s hard to know exactly how the economy is performing in Belizes, but there is some evidence that it is in a state of stagnation, particularly for the country’s manufacturing sector.
Economists estimate that the average price of a house in Belises dropped in 2017 from an average of $1.4-million in 2016 to an average $844,000.
In some cases, the price drop was much greater.
In one case, a house on a small island in Belmopan, for example, sold for $2.4 billion.
The new housing boom is also causing problems for Belize City Council President Pedro Espinoza.
He recently said he was surprised by the new housing prices and the government’s lack of response to the problems.
I would have thought that they would have already taken action and that it would be addressed in some kind of policy,” Espinozas spokesman Luis Marquez told the Belmopanias National TV.
He added that he was also surprised that Espinojas council has been silent on the issue.
Espinoza has been in power for less than a year and has faced growing criticism over the past few years over the countrys economy.
Last month, he resigned after it was revealed that the government had been mismanaging funds.
In October, the government issued a decree to raise the minimum wages of workers who had been working in construction for a decade.
But the government has yet to implement the change.
In recent weeks, Belize has seen several other major housing bubbles pop up.
In February, the Belo Horizonte city of Bocas del Toro declared bankruptcy, prompting the state government to declare an emergency in the capital.
In September, the national bank of Belmopanes issued a statement stating that it was investigating the possibility of a possible sovereign default.
In addition, the local government of Boca Grande del Sur also announced it was considering insolvency.
The Belo América Bank also issued a warning about Belmopans economic health.
The Bank of Beloëtia warned that Belmopán was facing a “major and persistent risk of insolvencies” due to its high debt burden and the lack of policy measures to tackle the crisis.
In addition, BeloAmérica said that BeloCosta, Belmopano’s largest municipality, was suffering from a “disastrous economic recession,” while BeloPunta Del Sol, Belogon’s third-largest municipality, and BeloMás, its largest, were in a “grave and protracted financial distress.”