Guatemala's Economy: 2019 Would Be Better

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.

Friday, January 18, 2019

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.

Sergio Recinos, president of Banguat, said to that "...'We see that family remittances keep growing, imports behave dynamically, and credit shows a recovery. In general, there is an improvement in the strictly economic part, although there are extra-economic risks that we hope will not materialize."

On the other hand, Paulo de León, director of CABI, said that "... the decline in investment in capital goods is being reversed, the price of raw materials is rising, and the index of industrial activity shows a recovery."

According to forecasts from the Economic Commission for Latin America and the Caribbean (ECLAC), the Guatemalan economy is expected to increase 3% in 2019.

See Banguat's president's presentation.

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More on this topic

Industry: Forecast for Guatemala

August 2020

After the industrial activity registered in May one of the lowest levels of the last years, it is expected that the sector will close 2020 in negative variations, but more moderate than those reported in the first half of the year.

The Index of Economic Activity of the Chamber of Industry of Guatemala, which is calculated by Central American Business Intelligence (Cabi), states that during May and in the context of the economic crisis resulting from the outbreak of covid-19, fell by about 10% when compared to the same period in 2019.

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: 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%.

Guatemala: Economy to Grow between 3% and 3.8%

May 2018

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%.

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%.

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