Guatemala: 2019 Better Than 2018?

The Bank of Guatemala expects next year's economic growth to be better than in 2018, which would be caused by higher public spending and the growth of family remittances.

Friday, December 14, 2018

Authorities of the Bank of Guatemala (Banguat) informed that the Guatemalan economy will close 2018 with a nearly 3% growth, however, for next year is expected that the increase in GDP will be in the range between 3% and 3.8%.

Sergio Recinos, president of Banguat, explained to that the factors influencing greater economic growth are "... the approval of the budget, since more public investment is planned that will have a multiplier effect on the economy. Foreign exchange income from family remittances, which although it will have a slowdown (slower growth rate) compared to 2018, the offices will reach US$10.000.86 million, or a 8% growth."

Recinos added that "... Imports and exports of goods will also contribute to the economy, as well as the construction sector activity, which will have a greater rebound, especially in public and private infrastructure. On the other hand, a recovery of bank credit to the private sector is also expected. We are estimating a growth range with the different variables'.” See "This is why Banguat is more optimistic in its economic growth forecast for 2019."

Read full article (In Spanish).

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