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Economic Survey of Latin America and the Caribbean 1993

image of Economic Survey of Latin America and the Caribbean 1993

Issued in two volumes - volume I gives insight into the economic trends, the international economy and the role of exchange rate policy in Latin America and the Caribbean. Volume II explores the economic developments by country. Complimentary statistical tables are included.

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Guatemala

In 1993, the Guatemalan economy managed to grow by 4% and bring inflation down slightly to 12%, despite the aftershocks of a coup d’état in May. However, the fiscal imbalance increased and the external deficit widened. The chief cause of the fiscal imbalance was a real decrease in tax revenues which could not be offset by the moderation in spending imposed by the new government that took office in June. The continued abundant inflow of external resources, equivalent to about 7% of GDP, made it possible to maintain a high level of imports, which, along with a slight fall in exports, produced a virtual repeat of the massive current account deficit recorded the year before.

English

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