Nicaragua: MSMEs Expect 5% Growth
The expectation for 2011 is to achieve a 5% economic growth.
Tuesday, January 4, 2011
If the growth is achieved it would be worth some $ 152 million more than the $ 2,600 million micro, small and medium enterprises (MSMEs) contributed to the Gross Domestic Product (GDP) in 2010.
The reduction to $25,000 on the minimum amount of investment required to enjoy tax exemptions opens up opportunities in a rising tourism sector.
A rate of 10% per year was agreed for MSMEs in Nicaragua.
Over 50% of SMEs fail before they are three years old, 90% are no more than five years old and only 10% survive.
The Wordl Bank project supports the update of the Government’s Poverty Reduction Strategy under the National Human Development Plan, which has an emphasis on private sector development.
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