After the announcement of the intention to increase the tax on the distribution of cement and fuel in Guatemala, businessmen believe that in this scenario of incipient economic recovery it is not a good idea to increase the tax burden.
In order to face the effects of the economic crisis generated by the covid-19 outbreak, Guatemalan authorities are already beginning to discuss the fiscal policy to be applied in 2021.
More than five months after the suspension of commercial air transport in the country, the Civil Aeronautics Authority reported that as of October 12, international flights will be reactivated.
In this scenario of economic crisis, falling tax revenues and the need to finance recovery programs, in Guatemala and Costa Rica it is already proposed to increase current taxes and create new ones.
Guatemalan authorities are already beginning to discuss the fiscal policy they will apply in 2021, when the economy will have to face the effects of the economic crisis generated by the covid-19 outbreak.
During the first seven months of the year, 26,188 vehicles were imported to El Salvador, of which 18% were new units and 82% were used. Second-hand cars are still in demand in this new business scenario.
According to representatives of the Association of Vehicle and Automotive Parts Importers (Asiversa), the demand for used vehicles has been maintained in this context of economic crisis, but sales have fallen due to the drop in prices.
After six months of closing the borders to commercial flights, air transport has been reactivated from September 18 with the arrival of four aircraft from the United States.
At the beginning of September, the Presidential Commission for Emergency Attention Covid-19 (COPRECOVID) had anticipated that the reactivation of operations at La Aurora and Mundo Maya International Airports would be carried out under the health protocols endorsed by health authorities and recommendations from International Civil Aviation.
After the Constitutional Court halted the government's decision to request a negative PCR test to covid-19 from travelers arriving in the country, the Executive assures that they will demand this requirement from the airlines.
Arguing that the right to enter the territory is restricted, on September 15 the Supreme Court of Justice suspended the decision of the Executive Autonomous Port Commission (CEPA) to demand proof of covid-19 from Salvadorans and foreigners with definitive residence in the country, who want to enter El Salvador when the international airport resumes operations for commercial flights as of September 19.
After the impact caused by the covid-19 outbreak, Nicaraguan businessmen in the sector estimate that in the first seven months of the year the maquila industry have stopped exporting close to $300 million and have had to lay off some 6 thousand employees.
The drop in demand in the United States, which is one of the main destination markets for exports of clothing made in Nicaragua, explains part of the drop in income for companies operating in the country.
Although in Central America the period of mandatory confinement has been exceeded, it is still a priority for consumers in the region to spend their free time in their homes and to devote themselves to household cleaning and home cooking.
It has been six months since the first cases of covid-19 were detected in the region.
Because the supply of office and commercial buildings has increased, and at the same time unemployment has also risen, in Costa Rica the directors of these properties foresee that next year the parties will have to renegotiate the contracts.
Data collected by Colliers International indicate that between June 2019 and the same month in 2020 the total inventory of commercial buildings increased by 1.5% from 1.16 million m2 to 1.18 million m2.
After the unemployment rate in the United States fell from 15% to 8% between April and August, it became evident that at the beginning of the crisis the capacity of recovery that the North American country could develop was underestimated and it is expected that this behavior could boost the economic activity in Central America.
During the first half of 2020, when the first cases of covid-19 began to be reported in the region, forecasts noted that the recovery of economic activity would be excessively slow, due to a significant drop in consumption globally.
The Panamanian Ministry of Health decreed that as of September 14 the measure restricting mobility by gender will be lifted and it also relaxed the curfew, which will now start at 11 p.m. and end at 5 a.m. the next day.
The restrictions on the mobility of Panamanian consumers have been in place for almost six months, since the curfew was introduced on March 18, a measure by which the government has tried to stop the advance of the covid-19.
After reporting in June a 7% year-on-year variation, in July the monthly index of economic activity continued to fall, registering an 8% drop with respect to the same month in 2019, a decrease that is explained by the economic crisis affecting the country.
The lower activity, which is due to the impact that the pandemic has had in Costa Rica and around the world, is seen in the five major economic activities (agriculture, manufacturing, construction, trade and services) that make up the monthly index of economic activity (IMAE).
With the change in the configuration of the markets and businesses, companies must think clearly, adapt to the new rules of the game and avoid, as far as possible, immediately implementing the policy of low prices.
The economic crisis resulting from the outbreak of covid-19 has changed the rules of the game in the markets at a global level. Some companies, in their attempt to stay in business, have opted to lower their prices, even to levels where they could incur losses.
Starting October 17th, JetBlue will gradually restart operations with the flight between San Jose and Fort Lauderdale in Florida, and from October 25th it will start operating the route between the Costa Rican capital and New York.
From October 28th the airline plans to reactivate the flight between Orlando and San Jose.
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