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.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions