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Latin America Investment News on Viva Tropical

Nicaraguan Economy Remains Dynamic

Article Summary:

It’s a sure sign to pay attention to the potential of Nicaragua as its economy remains dynamic and shows an average growth of 5.8%. The construction industry is “booming,” confirms the NCB, with an increase in private residential construction projects.

Photo Credit: La Prensa

Original Article Text From La Prensa via Google Translate :

Nicaraguan Economy Remains Dynamic

The construction and mining sectors are pushing the growth of the Nicaraguan economy in 2012, as reported by the Central Bank of Nicaragua (BCN).

The Monthly Economic Activity Index (IMAE) closed the first quarter with an average annual growth of 5.8 percent. While it is positive, we observe a decrease in the rate of 7.7 percent accumulated in March 2011.

In contrast to the performance of construction and mining is fishing, which contracted affected by high production costs associated with increased fuel prices, the current closed season and climate impacts that affected months.

The NCB assesses that “perceived though a moderation in the performance of activities, the country’s economic growth remains solid, despite the risks generated in the international context, mainly due to the debt crisis in the euro area.”

The entity recognizes that most of the sectors with the exception of fishing-remain dynamic, “but slowed compared to previous months.”

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Metal mining continues with great momentum for the extraction of gold and silver, as a result of “new areas of operation and implementation of best technological processes in mining and processing of selected material” by the market participants.

While construction is “booming,” confirms the NCB, which is based on the increase in private works construction, especially residential “as much of a social nature as those aimed at broader economic strata.”

The Nicaraguan Chamber of Construction estimated that this year are running about 600 projects, including public and private, in tourism, energy, housing, roads and other works.

Link to Original Article:

From La Prensa

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