[ad_1]
The Bank of Guatemala (Banguat) has downgraded economic growth forecasts for 2018, stemming from a fall in the mining sector, falling international prices of raw materials and commodities. Guatemalan exports, as well as effects of the eruption of Fuego volcano
The new growth projection was set between 2.8 and 3.2 percent, with a central value of three percent, a figure that is placed above what has increased the Guatemalan economy last year, with 2.8%.
The central bank explained that the mining and quarrying sector fell to 31.7% in July, due to the technical closure of the Marlin mine and the closing effect of San Rafael Minera since July 2017.
Cacif: "Questions are developing about how CC acts"
<img src = "data: image / gif; base64, R0lGODlhAQABAIAAAAAAAP // / yH5BAEAAAAAAAAAAAABAAEAAAIBRAA7" clbad = "lazy-hidden "data-lazy-type =" iframe "data-lazy-src =" "alt =" "/>
Last year this sector has recorded a decline of over 20% and although growth is expected this year, the suspension of mining San Rafael has a negative impact of 0.1 point per quarter on national GDP growth .
While there was an initial growth scenario of 3.8% for this year, Banguat had anticipated during an activity of the American-Guatemalan Chamber of Commerce (AmCham) he was going to revise the figure.
Among the variables that were also considered For the revision of growth, the public sector found a decline in capital investments and losses due to the eruption of the Fuego volcano have left damage and losses estimated at $ 1.6 billion.
"Among the factors that influenced: international commodity prices and Guatemalan export products, the case of sugar, rubber, coffee and bananas, whose prices have fallen, "Sergio Recinos, acting president of Banguat and JM favorable
In this review, that the acting president of Banguat and the Monetary Council (JM), Sergio Recinos, announced Wednesday to members of the MB, a better scenario than expected for the The electricity sector would increase from 4.7 to 6.1% compared to the previous estimate, due to an increase in exports to the Mexican and Central American market
What actions would give priority to the public and private sectors to improve the economy?
<img src = "data: image / gif; base64, R0lGODlhAQABAIAAAAAAAP /// yH5BAEAAAAALAAAAAABAAEAAAI BRAA7 "clbad =" lazy lazy hidden "data-lazy type =" iframe "data-lazy-src =" "alt =" "/>
[ad_2]
Source link
