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Guatemala´s economy to grow 3.5% despite Covi-19

By: Prensa Latina

Guatemala closed its first quarter of the year with the largest economic recovery in the region, showing that its financial outlook will be excellent for the rest of the year, President Alejandro Giammattei said Tuesday. In a joint press conference with Ministers of Finance and Economy, Álvaro González Ricci and Antonio Malouf, respectively, the Guatemalan president stressed that 2021 is less atypical compared with 2020, as the Covid-19 pandemic had a hard impact on domestic production and employment.

In his opinion, results until March, even amid a pandemic, are similar to those of 2020, before the onset of the disease.

Malouf, on the other hand, estimated a 3.5% GDP growth for this year, in correspondence with analyzes by the Bank of Guatemala and the Economic Commission for Latin America.

However, the International Monetary Fund (IMF) projected 4.5% in a report published on Tuesday.

Likewise, Malouf stated that the economic activity reached 57.40%, the highest after the fall in April 2020, when it dropped to 32.64%.

Original article: https://www.plenglish.com/index.php?o=rn&id=66055&SEO=guatemalas-economy-to-grow-3.5-despite-covi-19

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