1945

In 1999, the Guatemalan economy grew by 3.5%, which represented a slowdown from the previous year’s rate (5.1%), while per capita GDP expanded by less than 1%. This slackening of production activity was partly due to a contraction of domestic demand brought about by the application of a cautious lending policy on the part of the banking system, the impact of Hurricane Mitch, and the solvency problems experienced by some financial and stock-market institutions. A number of monetary and fiscal policy concerns that arose during the election campaign and the change of Administration also played a part in this situation.

Related Subject(s): Economic and Social Development
Countries: Guatemala
/content/books/9789210582957s003-c010
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