Managua, Nicaragua; August 09, 2017
According to the Economic Survey of Latin America and the Caribbean 2017, carried out by the Economic Commission for Latin America and the Caribbean (ECLAC), Nicaragua's Gross Domestic Product (GDP), will grow by 4.7 percent in 2017, while the Central American economy will experience a 3.6 percent growth, situating itself among the best performing markest globally.
Nicaragua will be the fourth best-performing economy within the Latin American and Caribbean region and the second highest growth projection in Central America. ECLAC stated that in 2016, the Nicaraguan economy maintained the dynamism observed in the last five years, and the 2017 economic growth will be sustained by domestic demand, increased exports and a growing dynamism of inflows associated with entry of tourists into the country.
On the other hand, in May this year, a delegation from the International Monetary Fund (IMF) visited the country, and concluded that economic developments in 2016 were generally positive. IMF officials pointed out that economic developments in 2016 were broadly positive. The Mission’s final report elaborates on medium-term projections, which are positive for 2017, with an expected growth of 4.5 percent, similar to what was stated by ECLAC.
Last July, Moody's Investors Service reaffirmed Nicaragua’s B2 credit rating, while improving the outlook from stable to positive. “The affirmation of the B2 rating reflects credit strengths including: strong economic growth, a policy framework geared towards maintaining macro-economic stability as well as lower-than-peers debt and interest burdens”, says the document.
All of this confirms the effectiveness of the macroeconomic policies implemented by the Government of Nicaragua, which is being recognized by important international organizations in a positive way.
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