Guatemala: Modest growth anticipated for 2008

The Association for Investigation and Social Studies (ASIES) carried out a moderate study of the local economy.

Monday, August 4, 2008

ASIES analyst, Carlos Gonzalez, pointed out that the unfavorable external climate resulting from the financial crisis, and the high price of oil and food - that started in 2006 and worsened in 2007, began to affect production activities during first semester of this year.
"During the first half of 2008, productive activity slowed down, and investment, inflation and salary indicators forecast that this situation will continue throughout the year," he added.
Gonzalez also explained that the monetary and banking sectors showed stability and that exports continued to grow.

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Cepal warns of smaller growth in Guatemalan economy

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After reaching a growth of 5.7% in 2007, the economy suffered a strong slowdown to the point where CEPAL is projecting a growth of 4.3% for 2008 and 4.0% in 2009.

The slowdown of the economy comes with an increase in inflation, which means there will be an increase in the monetary policy interest rates, and this will in turn cause the growth of the Gross Domestic Product (GDP) to shrink.

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