Guatemala
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America and the Caribbean 2001-2002 , pp 171-178
- Publication Date: October 2002
- DOI: https://doi.org/10.18356/8d97b3d1-en
- Language: English
Guatemala's macroeconomic performance flagged in 2001. Productive activity slowed down for the third year in a row, inflation spiked and the fiscal and trade deficits widened. Real GDP grew by 2.3%, compared to 3.6% the year before, and annual inflation reached 9.1%, exceeding by several points both the official target and the rate recorded the previous year. The consolidated public deficit was equivalent to 3% of GDP, which was higher than the 2000 level (2.2%), and both the trade deficit and the balance-of-payments current-account deficit remained high in relation to GDP (9.5% and 5.4%, respectively). The Monetary Board intervened in a number of financial intermediaries that were experiencing worsening solvency problems. In contrast, structural reform made decisive progress on several fronts.
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