Integration Bank Projects Low Regional Growth
TEGUCIGALPA (ACAN-EFE) – TheCentral American Economic IntegrationBank (BCIE) last week projected 3.2%economic growth for Central America thisyear, citing international economic trendsas the causes for this relatively low rate.In 2004, the region’s economy grew3.7%, but the region “will lose dynamismin the face of deceleration of the worldeconomy, elevated petroleum prices andthe gradual increase of international interestrates.”These statements were part of the“Economic Trends and Perspectives forCentral America” report that BCIE economichead Marvin Taylor presented May11.“The region’s modest growth will beinfluenced as well by greater competitionfrom continental China, especially the textilesector,” the report says.The most dynamic economy this year isexpected to be Honduras at 4.3%, accordingto the report’s predictions, followed byNicaragua (3.8%), Costa Rica (3.4%),Guatemala (3.2%) and El Salvador (2.5%).The report said external demand andinvestment, enhanced by the positive contributionsthe Central American Free-TradeAgreement with the United States(CAFTA) would provide if ratified, alongwith advances toward a Central AmericanCustoms Union, may help increase economicgrowth this year.
You may be interested

United States to mandate isolation after return from international travel
Alejandro Zúñiga - January 21, 2021New U.S. President Joe Biden has signed an executive order requiring international travelers to self-quarantine upon returning to the country.…

Lottery Fever Soars Across the Globe in Hopes to Win $1 Billion Jackpot in Mega Millions, Try Your Luck from Costa Rica
The Lotter - January 21, 2021The Mega Millions jackpot could soon set a new record as online lottery play drives up ticket sales. Residents of…

Panama begins Covid-19 vaccinations
Juan José Rodríguez / AFP - January 21, 2021Nurse Violeta Gaona on Wednesday received in her left arm the first dose of the vaccine against Covid-19 in Panama,…