The best performing sector was the financial services sector, with growth of 9.8%, followed by trade, which recorded an increase of 5.8%.
From a report by the Central Bank:
The Central Bank of Nicaragua (BCN) published, on Thursday March 16, 2017, results of the estimate of Gross Domestic Product (GDP) for 2016.The results indicate that in 2016, GDP achieved a growth rate of 4.7 percent.
According to Fitch Ratings the reelection of Daniel Ortega as president of Nicaragua means stability in the country's economic policies.
EDITORIAL
Stability and economic and political continuity is what Fitch Ratings envisages for Nicaragua after the outcome of the presidential elections last Sunday, in which President Daniel Ortega was declared the winner, with 70% of the vote, according to a report by the Supreme Electoral Council.
Less investment, depletion of international reserves and contraction of public spending, in the opinion of Funides, are some of the effects that might be felt if the US Senate approves the bill.
The Nicaraguan Foundation for Economic and Social Development (Funides) has analyzed the potential impact of a possible US approval of the bill known as the "Nica Act", which aims to place conditions on the granting of loans by international institutions to the Ortega administration.
"The ongoing economic recovery in the United States and persistence of relatively low oil prices will provide favorable tailwinds to the region.Because of supply constraints, the region is expected to maintain a moderate pace of growth in coming years."
From the press release by IMF:
Central bank governors, finance ministers, and banking superintendents of Central America, Panama, and the Dominican Republic, and senior IMF officials met in El Salvador on July 23-24 to review the economic outlook for the region and strategies to strengthen policy frameworks and raise inclusive growth. The regional conference saw the participation of the President of El Salvador, Salvador Sánchez-Cerén; Governor of the Bank of México, Agustín Carstens; Director of the Netherlands Bureau of Economic Policy Analysis, Laura van Geest; and former Finance Minister of Perú, Luis Carranza.
No changes in the economic or political direction are foreseen in a country where President Ortega maintains high public approval rates in a context of economic growth, although there is erosion of democratic institutions.
On Tuesday June 9 a panel discussion was held in the premises of the Inter American Dialogue in Washington DC, whose main topic was the analysis of the economic and political situation in Nicaragua.
"Nicaragua has advanced greatly in recent years consolidating its economic stability, improving macroeconomic balances and reducing vulnerabilities."
From a statement issued by the International Monetary Fund (IMF):
Mr. Min Zhu, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement at the conclusion of his visit to Nicaragua today:
The 3rd Summit of the Community of Latin American and the Caribbean resulted in an expected collection of platitudes which can be summarized by everyone willing to "be rich and healthy and not poor and sick", plus a media show of diplomatic excesses.
EDITORIAL
The meeting was attended by all the leaders who were able to, obviously not because they expected to accomplish anyhing that might benefit the people of their respective countries, but simply because "you have to be there".
Employers in the region are complaining about a lack of long-term development policies, and are asking for Government transparency, effectiveness and legal certainty, so that they can continue investing in the region.
During a meeting between businessmen and government called 'Expanding opportunities: promoting the private sector and job creation', entrepreneurs from different sectors shared their concerns and views on the investment climate in the region.
In the region the level of sales tax evasion is around 33% on average.
From a statement from the Central Institute for Fiscal Studies (Icefi):
The Central American Institute for Fiscal Studies presents the seventh edition of its analysis of the situation in Costa Rica.
Icefi: It is urgent that the two contending political parties specify a plan that will allow them to balance fiscal accounts and fulfill their campaign promises.
Analysis of debt sustainability in Central America, economic growth, inflation, revaluation and management of the fiscal deficit.
Central America Fiscal Lens No. 5 reported that gross domestic production in Central America in 2012 amounted to U.S. $184.000 million. The fastest growing economies were Panama, Costa Rica and Nicaragua.
The road to sustainable human development passes inexorably thorough the digitization of national economies.
A book published by CEPAL entitled "Digital Economy for structural change and equality," reports on the profound differences between the Latin American countries with respect to the integration of new information technologies and telecommunications.
In Guatemala investment is between 16% and 17% of gross domestic product, in Southeast Asia, the figure is between 25% and 35%.
Elperiodico.com.gt reports that a group of experts met last week in this country to discuss how to foster Guatemala’s growth. The analysis of the issue carried out by a member of The Growth Dialogue think tank can be extrapolated to most Central American countries.
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