The economy of Honduras grew by 4% in 1993, due to growth in domestic demand, driven to a large extent by increased fiscal expenditure. Gaps in both the fiscal and external accounts, however, widened considerably. The central Government ran up its budget deficit to over 9% of output, while the deficit in the balance-of-payments current account expanded to 11 % of GDP, contributing to a loss of reserves equal to approximately 2.5% of output. There was a resurgence of inflation, which mounted quickly to 13%, equalling the figure for the previous year.

Related Subject(s): Economic and Social Development
Countries: Honduras
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