Guatemala: Economy to Grow between 3% and 3.8%

Explained by the dynamics of economic activity and the flow of family remittances, the Central Bank estimates that this year the economy will grow between 3% and 3.8%.

Monday, May 28, 2018

According to the authorities at Banco de Guatemala (Banguat), by 2019 the expectation is that the economy will grow between 3.1% and 4.1%, and in relation to inflation for this year and next, it is expected that the Growth rate will remain close to 4%.

Regarding the forecasts for the Guatemalan economy, Sergio Recinos, president of Banguat, explained to Elperiodico.com.gt that " ... Imports will remain at a growth rate similar to that expected for 2018, the projected range is between six and nine percent.  The same is predicted for exports that will have a range between 5.5 and 8.5 percent. "

In relation to family remittances, Recinos added that by 2019 " ... income from family remittances will increase of between 5.5 and 8.5 percent, lower than the forecast for this year of nine and 12 percent. "

See full report by Banco de Guatemala. (In Spanish)

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More on this topic

Guatemala: Growth Projections Improve

February 2019

The behavior of credit to the private sector, public spending, imports and remittances would explain the higher growth expected for the economy this year.

The Bank of Guatemala (Banguat) reported that this year's economic growth is projected to range between 3% and 3.8%, with a central value of 3.4%, up from the 3.1% reported during 2018.

Guatemala's Economy: 2019 Would Be Better

January 2019

The growth of family remittances, the recovery of credit to the private sector and the upturn in investment in capital goods would determine a better economic performance this year.

In a forum organized by the Chamber of Industry of Guatemala, representatives of the Bank of Guatemala (Banguat) and Central American Business Intelligence (CABI), agreed that this year the country's economy could register a better performance than in 2018.

Guatemala: 2019 Better Than 2018?

December 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.

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%.

Difficulties for the Guatemalan Economy

June 2018

The poor performance of the mining sector and the decline in the export price of sugar and coffee could have a negative impact on the outlook for economic growth this year.

According to Bank of Guatemala (Banguat), the recent performance of short-term indicators of economic activity such as the Monthly Index of Economic Activity, imports and family remittances, among other things, they anticipate a performance consistent with the estimate for the end of the year, which ranges between 3% and 3.8%.

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