Nica Economy Predicted To Grow Only 2.8%
MANAGUA – The Nicaraguan economy is predicted to grow only 2.8%, with an accumulated 11% inflation this year, according to an independent study by renowned economist Néstor Avendaño.
“The Nicaraguan economy will grow very little this year, less than 3% – optimistically we are saying 2.8%,” Avendaño said.
The economist said he based his predictions on the increase of petroleum prices in the international market, as well as energy rationing, the poor execution of public funding, the reduction of private investment and the increase in food prices.
In addition, Avendaño noted, the rain damage caused in past weeks will affect exportation of coffee, peanuts and other agricultural exports.
Avendaño’s predictions are less than those of the Central Bank, which recently calculated an economic growth between 3.7-3.9%, with inflation under 10%.
Last year, Nicaragua’s economy grew 3.7% with inflation at 9.4%. At the beginning of the year, the Central Bank had calculated a 4.2% economic growth for 2007.
You may be interested
Download our High Season Print Edition hereThe Tico Times - December 17, 2017
Thanks to all the readers from around Costa Rica and the world who have written to ask how they can…
PHOTOS: Costa Rica’s Festival of LightAFP - December 17, 2017
Costa Rica's traditional Festival de la Luz, a holiday parade through the heart of San José, filled the capital with…
Give green in Costa Rica: holiday gifts that will live on all yearEd Bernhardt - December 16, 2017
A warm holiday greeting from the garden to all our readers. Another year has come to an end, and it’s…