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Latin America Investment News on Viva Tropical

Nicaragua’s Economy is Good, Even Booming

Article Summary:

New housing developments are fueling Nicaragua’s housing boom. Figures emerging from the Nicaraguan Chamber of Construction are forecasting an accelerated growth of 20% by 2012 which will topple the current growth record of 10.5% in the first half of the year.

Photo Credit: La Prensa Nicaragua

Original Article Text From La Prensa Nicaragua via Google Translate :

The construction Boom Year Lives

Investment in new housing developments and the municipal election campaign “hot” further good time recording the construction sector in Nicaragua.

Benjamin Spears, president of the Nicaraguan Chamber of Construction (CNC), says that the expectation is to close 2012 with a growth of 20 percent, exceeding the 17.4 percent achieved last year.

Displays the full recovery of the sector is presented in the first half of the year recorded a 10.5 percent growth, according to the CNC. Spears says the housing projects, especially the housing segment, is the main factor of growth.

“Fortunately we are seeing not only a social level is being developed but is already to medium high, houses 30 and $ 40,000 are starting to move pretty and new developments are coming,” says

“Nicaragua’s economy is good, is booming,” he says.

More hotels, more employment
Private investments in the sector are also important in tourism, as was confirmed later this year that will begin the construction of three new hotels in Managua. One would be the Holiday Inn Express.

Spears notes that these investments will generate thousands of jobs in the country. “One of the hotels will have a capacity of 150 rooms, and at least (the building) will generate about 500 workspaces in all sectors: electrical, electromechanical, hidrosanitario, masons, carpenters and helpers,” he says.

PUBLIC SECTOR ALSO DRIVES
The president of the Nicaraguan Chamber of Construction recognizes that the sector’s growth also comes from public sector investment.

The capital expenditure budget and public investment is updated córdobas 9769.3 million, as reflected in the Budget Execution Report January-June 2012 the Ministry of Finance and Public Credit.

Spears also notes that this year’s municipal elections are a factor of dynamism as they are boosting infrastructure in the municipalities where the owners seek reelection for “voters see all the benefits they have.”

The level of implementation of municipal transfers in the first half is 70.5 percent, according to the Treasury.

Link to Original Article:

From La Prensa Nicargaua

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