Economic Growth: Businessmen's Predictions

In Guatemala, 54% of businessmen believe that in 2020 the local economy will accelerate, 42% believe that stable growth will be reported and 4% believe that a slowdown could be reported.

Friday, December 6, 2019

According to the Third Business Perception Survey conducted by the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (Cacif), 67% of respondents expect greater growth of their companies and 56% expect more employment with the arrival of the new government.

In the framework of the beginning of the administration of Alejandro Giammattei, who will assume the presidency of the country next January 14, 29% of businessmen think that the main priority in the first year of the future government will be to regain citizen confidence.

You may be interested in "Political Environment Favors Business Confidence"

Claudia Galán, executive director of Cacif, told Prensalibre.com that "... the challenges for 2020 were also detected, since in spite of the positive aspects observed, 58% of businessmen also consider corruption and 59% conflict as long term issues since they are structural problems of the country."

Galán added that "... Regarding business, six out of 10 businessmen indicated that during the last year their company was exposed to breach of contracts and delay in procedures, an aspect they consider to be the two most important challenges for business in the country."

The results of the Cacif survey coincide with the upturn in the Index of Confidence in Economic Activity, which in November 2019 reported a 28% growth over the same month in 2018, reinforcing the upward trend that has been registered since July 2019.

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More on this topic

Business Confidence: Good Numbers Continue

December 2019

In November of this year, the Index of Confidence in Economic Activity in Guatemala reported a 28% growth with respect to the same month in 2018, reinforcing the upward trend that has been registered since July 2019.

Businessmen forecast an inflationary rhythm of 3.34% and 3.54% for November and December 2019, respectively, as well as 3.69% for January 2020.

When Confidence Disappears

September 2019

Business confidence in Costa Rica fell in the third quarter to levels reported in 2009, a year marked by the global financial crisis, and in consumer’s pessimism has also rebounded, because no effective and short-term measures are perceived that tend to reactivate the national economy.

Businessmen are not very optimistic about the development of their businesses in the coming months, as comparing today's Business Confidence Index (IEC) (5.3) with that of a year ago (6.2) shows a significant decline. In addition, this indicator accumulates 10 quarters of gradual slowdown, reported the Costa Rican Union of Chambers and Associations of Private Business Sector (UCCAEP).

Business Optimism on Election Day

May 2019

Two weeks before the General Elections in Guatemala, the business sector perceives a favorable environment for business because of the behavior of the country's economic activity.

According to the Business Perception Survey, compiled by the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (Cacif), 67% of the consulted businessmen foresee stability in employment and 50% thought that there is a stable economic environment for companies. These expectations of the private sector are reported in the final stretch of the country's electoral process.

Guatemala: Uncertainty Weighs on Investments

October 2016

Five out of ten Guatemalan entrepreneurs believe that the current legal landscape of the country "could have repercussions" for the business sector.

From a statement issued by the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations, CACIF:

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