Businessmen Disagree With Banguat's Projections

The chambers of industry, agriculture and commerce foresee no economic growth in 2009.

Monday, July 20, 2009

These associations consider Guatemalan Central Bank's economic growth projections as lacking reality.

From Siglo XXI's website: "Agriculture, industry, trade and construction, the sectors generating the most jobs, showed a drop in expectations. According to their spokespersons, this drop risks economic stability and thousands of jobs in these sectors, even though Banguat estimates growth for them this year."

More on this topic

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The Central Bank has cut its growth forecast for GDP for the year to 4% - 4.5% and expects inflation to be between 6.55% and 7.5%, higher than initially expected.

From the executive summary of the report "State of the Economy and Prospects, First Semester 2014":

At the end of the first half of the year, the Nicaraguan economy is maintaining positive growth rate, mainly driven by external demand and improved terms of trade.

The Guatemala of XXI Century

October 2010

Agriculture, industry and services are the sectors that have led the growth of the Guatemalan economy during the first decade of the millennium.

The ninth anniversary of the creation of Guatemalan´s newspaper Siglo XXI section, "Pulso", which specializes in economy and finance, prompted the analysis of the economy´s evolution in that period.

Guatemala Moves Towards a Services Economy

April 2010

Over the past 8 years, the commerce and services sector has increased its share of the Gross Domestic Product (GDP).

According to data from the Central Bank of Guatemala (Banguat), in 2001 these sectors accounted for 56.9% of the GDP, increasing to 60.4% in 2009.

In contrast, agriculture and industry lost share, dropping from 13.1% and 28.6% in 2005 to 11.9% and 27.7% respectively.

Guatemala: Cautious Projections for 2010

January 2010

The Central Bank of Guatemala (Banguat), expects economic growth to fall between 1.3% and 2.1%.

Its forecast is based on good results by the agricultural sector, which could grow 2.5%, up from 1.7% in 2009.

"The bank also expects recovery in commerce and mining (2% and 0.7% respectively). Construction is expected to remain negative at -7.1%, albeit better than in 2009, when it dropped -13.4%", reported

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