Economy - Belize's current state
Belize’s Economic Growth and Development As defined by Wikipedia, “ Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product or GDP ”. In other words, in a less complex term, economic development is simply a measurement of countries GDP sometime refer to as national output or GNI, however this does not tells us anything about the actual well being of the people in the country. This is where the Economic development plays an important role of a county. Economic development is a measurement that focuses on the welfare of the people of a county. Similarly stated by Wikipedia, “Economic development is the process by which a nation improves the economic, political, and social well-being of its people”. As it is important to not only look at the monetary or economy of a county but other indicator such as education,