The Costa Rica News (TCRN) – Central America’s economy will grow 3.9% in 2014, 0.01% less than last year, according to projections by the Secretariat for Central American Economic Integration (SIECA) released today in Guatemala City.
In a report on “Central Economic Outlook 2014”, SIECA provides that “the Central American region has a projected 2014 economic growth of 3.9%, confirming a pattern of stable economic development by 2015.”
For next year, estimates SIECA, economic growth in the region could reach 4% as a result of “the dynamics of international trade” that will impact positively on the economies of Central America.
SIECA forecasts good news for Panama and Nicaragua, countries that have a predicted growth in their economies of 6.9% and 4%, respectively, both above the regional average growth.
For Costa Rica and Guatemala, “an acceleration in domestic production” with provide a growth of 3.8% and 3.4%, respectively, while projecting that Honduras will have “relative stability” at 2.8%.
The bad news is for El Salvador, a country whose economy will have a “stalemate” with growth of just 1.6% for 2014 and 1.7% for 2015.
“The economic outlook for Central America in 2014 is the beginning of a period of transition, in which advanced economies gradually enter a recovery in economic activity, capitalizing on the dynamism of international trade,” said SIECA. (ACAN-EFE)
The Costa Rica News (TCRN)
San Jose, Costa Rica