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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More on this topic

Costa Rica: Public Debt Reaches 39% of GDP

March 2015

The need to borrow every month in order to pay current account expenses is the main cause of the continuing increase in the central government's debt to GDP ratio.

At the end of 2014, total public debt, which includes the Central Bank of Costa Rica and other public sector entities represented 58.6% of all production.

Growing Worries Over Guatemala's Public Debt

November 2013

Public debt has grown rapidly from $2 billion in 1998 to $13 billion in 2013.

This was explained by the president of the Bank of Guatemala, Edgar Barquín, who recommends establishing a debt policy in the country. "In the draft budget for 2014, the amount of debt accumulated by Guatemala will reach $14 billion," reported Prensalibre.com.

Costa Rica: Fiscal Deficit Less than 2% of GDP

June 2013

While up to May Finance revenue grew by 10% interannually, Central Government expenditure increased by 13.1%.

"Finance revenue grew by 10% interannually up to May, driven especially by the collection of income tax, tributes which recorded a growth of 11.7% in May," noted an article in Elfinancierocr.com.

$2 Billion Deficit in Costa Rica

December 2012

In November, the balance between government revenues and expenditures showed a deficit equivalent to 4% of GDP.

In November the government deficit amounted to $ 1.82 billion, or 4% of the gross domestic product (GDP), the same level as in 2010. Nevertheless, in 2010 the shortfall was lower, at $ 1.52 billion.

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