Guatemala: Strategy to Increase Investment Unveiled

The plan will enable the state to invest more resources in infrastructure, security, human capital and innovation.

Monday, August 2, 2010

The strategy presented by the Guatemala's "National Competitiveness Program" (Pronacom), suggests modifying the country's tax on income (ISR in Spanish) so that more individuals are eligible, as well as bring into force the so-called anti-evasion law (currently in congress).

Julio Héctor Estrada, executive director of Pronacom, indicated to Sigloxxi.com that these measures could increase tax income by 1.2% of GDP, or by a further 1.0% subject to growth in the Guatemalan economy".

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For and Against the UNOPS

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While state officials are happy to delegate their responsibilities to the UN Office for Project Services, the Comptroller of Guatemala has declared that its services are "detrimental to the interests of the state".

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Total 2011 budget is $ 4,503.5 million which includes payment of $653.5 million in Eurobonds due in 2011.

Fiscal policy objectives set for fiscal year 2011 are as follows:

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Guillermo Zuniga, Minister of Finance, has ruled out lowering taxes as a way of stimulating internal production, as this would increase the fiscal deficit.

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The government of El Salvador is proposing to increase the level of public investment.

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