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).
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".
A four-year plan to attract US$1.5 billion in foreign investment and promote the energy sector was unveiled last week by the Guatemalan government.
Total 2011 budget is $ 4,503.5 million which includes payment of $653.5 million in Eurobonds due in 2011.
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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