Guatemala

Real GDP growth in Guatemala stood at 4.0% in 2008, down from 6.3% in 2007, reflecting lower investment and slower growth in private consumption. Because of the economic crisis in the United States, family remittances declined to the equivalent of 11.3% of GDP, although they still helped finance the sizeable trade deficit (15.3% of GDP). In addition, the balanceof-payments current account deficit (4.8% of GDP) was once again financed by rising foreign direct investment (FDI). Higher world oil and food prices in the first half of the year pushed inflation up to 9.4% for the year. The tax burden was equivalent to 11.3% of GDP —one percentage point less than in 2007— increasing the central government deficit to 1.6% of GDP, slightly above the 2007 level.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions