Guatemala: Public Debt Could Reach 25.5% of GDP

The fiscal deficit of 2.3% proposed for the 2014 budget would cause such an increase in the Guatemalan public that could put monetary policy at risk.

Wednesday, January 22, 2014

In 2014 Guatemala's public debt will increase and it will be approximately $14.670 billion, equivalent to 25.5% of the country's GDP, explained Edgar Barquín, president of the Bank of Guatemala.

"... The increase will happen if the fiscal deficit proposed by the Ministry of Finance of 2.3% is realised," he added.

He recalled that "... 2013 closed with total debt of $13.397 billion, equivalent to 24.7% of GDP ...".

"... The country can not carry on with such high debt, therefore a policy must be defined to regulate the fiscal deficit.

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