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Guatemala sees faster growth in 2015

Monday, September 1, 2014

Growth in Guatemala, Central America’s biggest economy, will accelerate to 4.5 percent next year as infrastructure projects start up and spending increases ahead of presidential elections, Economy Minister Sergio de la Torre said.

Guatemala’s 2015 budget, due to be submitted next week, will rise to $9 billion this year and will include a fiscal deficit of as much as 2.5 percent of gross domestic product, de la Torre said.

Remittances are also surging as Guatemalans abroad benefit from the improving U.S. economy and send more cash back home, he said.

Source: Bloomberg