Honduras raises its economic growth projection to 10-11% by 2021

Tegucigalpa, Dec. 14 (EFE) .- The Central Bank of Honduras (BCH) on Tuesday raised its economic growth projection for the end of 2021 to between 10% and 11%, against 8% to 9% previously.

The new screening was announced by BCH President Wilfredo Cerrato during the presentation of the book “Together we made history, 8 years of Juan Orlando”, which details the management of the Honduran leader, Juan Orlando Hernández, at the during his two terms in office.

“A few weeks ago, we estimated growth of (between) 8 and 10%, the new updated data (as of Monday, December 13) is growth of between 10 and 11%,” Cerrato pointed out.

He added that the Central American country will close 2021 “with an annual economic growth above the average for the region, which according to the projections of the World Bank will be of 4.8%”, despite the effects of the pandemic and the tropical storms Eta and Iota, which hit Central America in November 2020.

According to the “World Economic Outlook” report, published in June 2021, the reconstruction after the past of Eta and Iota will support “the rebound of growth in 2021 in Guatemala and Honduras, although in terms of agricultural production capacity may take longer to recover ”.

Another of the economic indicators that Honduras will close with a better level than the average for the region is the consumer price index, he added.

Cerrato said that “there is” no indicator that “we are worse than 2014 or worse in the Central American region”.

“Honduras is in the middle of inflation in Central America at 4.35%, having lower inflation than in the United States,” the official said.

The country’s main source of foreign exchange is remittances sent primarily by Honduran migrants living in the United States, on top of exports such as coffee and maquila products, according to the agency.

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