The best performing sector was the financial services sector, with growth of 9.8%, followed by trade, which recorded an increase of 5.8%.
From a report by the Central Bank:
The Central Bank of Nicaragua (BCN) published, on Thursday March 16, 2017, results of the estimate of Gross Domestic Product (GDP) for 2016.The results indicate that in 2016, GDP achieved a growth rate of 4.7 percent.
According to Fitch Ratings the reelection of Daniel Ortega as president of Nicaragua means stability in the country's economic policies.
Stability and economic and political continuity is what Fitch Ratings envisages for Nicaragua after the outcome of the presidential elections last Sunday, in which President Daniel Ortega was declared the winner, with 70% of the vote, according to a report by the Supreme Electoral Council.
Less investment, depletion of international reserves and contraction of public spending, in the opinion of Funides, are some of the effects that might be felt if the US Senate approves the bill.
The Nicaraguan Foundation for Economic and Social Development (Funides) has analyzed the potential impact of a possible US approval of the bill known as the "Nica Act", which aims to place conditions on the granting of loans by international institutions to the Ortega administration.
A new proposal from the business sector aims not only to propose solutions to the fiscal problem but also strengthen productive areas in order to grow in a sustainable manner.
The National Association of Private Enterprise (ANEP) has summarized its proposals based on four pillars: economic growth, combating and reducing poverty, strengthening democratic institutions, and a pact on fiscal responsibility.
The government projects that the Panamanian economy will grow at an average annual rate of 6.3% over the next five years.
From the Ministry of Economy and Finance:
The Cabinet Council gave its approval to the Ministry of Economy and Finance (MEF), of the Medium Term Fiscal Framework 2017-2021, as set out in Article 18 of Law 34 of 2008, better known as Fiscal Social Responsibility Law.
Economic growth will range between 3.3% and 3.7% in 2016, led by banking, communications, agriculture, manufacturing, and recovery in the construction sector.
From a statement issued by the Central Bank:
The Board of the Central Bank of Honduras (BCH) in fulfilling its tasks, on February 17, 2016 by Resolution No.56-2 / 2016, approved the 2016-2017 Monetary Programme, which contains guidelines and policy actions, related to credit and exchange in the country, to be implemented in this biennium, based on the recent national macroeconomic performance and behavior and outlook for the world economy.
Report of Costa Rica´s performance, through the selection, measurement and evaluation of a set of variables that include social, economic, environmental and political aspects of development.
Overview of the State of the Nation Report 2015:
In the past five years, the State of the Nation has warned about the severity of the problems that threaten the sustainability of human development, the political system's inability to find answers and the need to correct the country's course. Therefore, in 2011 it was stated that behind the political and economic stability a wearing down of Costa Rica's historical progress could be detected. In 2012 the absence of solid progress was noted and in 2013, the existence of myths about the "country we are," which led to do the same actions being repeated with different results expected. Last year, the Twentieth Report stated that it was the end of an era and the political system was being called on to lead the transition with minimal confrontation and costs for the weaker groups.
"The ongoing economic recovery in the United States and persistence of relatively low oil prices will provide favorable tailwinds to the region.Because of supply constraints, the region is expected to maintain a moderate pace of growth in coming years."
From the press release by IMF:
Central bank governors, finance ministers, and banking superintendents of Central America, Panama, and the Dominican Republic, and senior IMF officials met in El Salvador on July 23-24 to review the economic outlook for the region and strategies to strengthen policy frameworks and raise inclusive growth. The regional conference saw the participation of the President of El Salvador, Salvador Sánchez-Cerén; Governor of the Bank of México, Agustín Carstens; Director of the Netherlands Bureau of Economic Policy Analysis, Laura van Geest; and former Finance Minister of Perú, Luis Carranza.
No changes in the economic or political direction are foreseen in a country where President Ortega maintains high public approval rates in a context of economic growth, although there is erosion of democratic institutions.
On Tuesday June 9 a panel discussion was held in the premises of the Inter American Dialogue in Washington DC, whose main topic was the analysis of the economic and political situation in Nicaragua.
The roadmap to be followed by the country for entry into the block, has renewed hopes of businessmen for modernization, fiscal discipline, competitiveness, transparency and legal certainty.
Following the adoption by the Organization for Economic Cooperation and Development (OECD) of the roadmap to be followed by Costa Rica to be accepted as part of the block, Prensalibre.cr reports that "...As the first step of the program, Costa Rica must submit an initial memorandum which establishes its position regarding 250 legal instruments of the OECD. Following this, experts from the organization will carry out technical reviews and collect information through questionnaires and official visits to the country. "
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PRONicaragua, is the Nicaraguan Investment Promotion Agency, established in 2002. We are a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The Agency provides complimentary support services to qualified investors seeking investment opportunities in our country.
Operates in Nicaragua
Phone: (505) 2270 6400
Key representative/s from the Guatemalan Exporters’ Association last 13-15 October attended the 8th TPO Network World Conference to exchange ideas and best practice around stimulating export-led economic growth and meeting the urgent challenges in the sector.