1945

The Guatemalan economy grew by 5.7% in 2007, the best performance in the current decade. This was mainly thanks to the buoyancy of private consumption, boosted by large inflows of family remittances (12% of GDP). Those inflows went some way towards financing the country’s large trade deficit (about 17% of GDP). The current account deficit (5.1% of GDP) was more than covered by foreign direct investment and other capital inflows. The yearly inflation figure was 8.7%, which to some extent was due to external supply factors; thus, the 2007 inflation target of 4%-6% was not met. The central government deficit was 1.5% of GDP (1.9% in 2006).

Related Subject(s): Economic and Social Development
Countries: Guatemala
/content/books/9789210544580s009-c003
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