Guatemala: Construction Permits Decrease by 20.5%

During the first quarter of the year, there were 2,077 licenses approved for construction, 20% less than the 2,552 licenses that were approved during the same period in 2009.

Thursday, May 21, 2009

There was a similar reduction in the amount of square meters approved for construction, which went from 330,851 square meters during the first quarter of 2008 to 264,164 during the first three months of 2009.

Oscar Sequeira, an analyst for the Department of Statistics of the Guatemalan Chamber of Construction, said in an article in Elperiodico.com.gt: "Potential buyers are holding back their home purchases due to the economic crisis and fear of job loss, and this affects sales. In addition, there are no big projects on the way at this time."

More on this topic

SOS for Nicaragua

July 2008

While officials from the IMF were announcing that Nicaragua is "among the countries at the point of going down because of high oil and food prices," the economy was feeling the consequences of another inflationary spiral, says Oliver Gómez in the Managua daily El Nuevo Diario.

It increased electricity rates, changed the way it did its billing, and the first effects are being felt today with the new costs of the basic basket of consumer goods, he continues.

Infrastructure: the multiplying factor

November 2008

The Minister of Public Works of Panama es convinced that to weather the crisis investment in infrastructure must be widened. Below he explains how he is doing that.

With an estimated growth of 9% for 2009, Panama will be the Latin American country with the greatest economic expansion next year, according to a forecast by the International Monetary Fund (IMF).

Agriculture Absorbs the Unemployed from Construction

April 2009

In Costa Rica, the agricultural sector absorbs workers unemployed by construction.

The construction sector in Costa Rica, which faces a significant slowdown, laid off more than 17,000 workers at the end of 2008 as a product of the crisis. However, these workers were absorbed by rice, pineapple, sugar and coffee production.

Old days were better days in Nicaragua

June 2008

You don't need to be an economist to see that in Nicaragua things were better in the past, and if we don't change direction the country will fall over a precipice, says Fernando Centeno Chiong.

In an opinion piece in the Nicaraguan newspaper La Prensa, Centeno says a recent report shows that expected economic growth this year will be about 2.5 percent.

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