LatinNews Daily - 11 December 2019

* Nicaragua’s national legislature has approved the national budget for 2020 based on C$79.2bn (US$2.3bn) in fiscal income and spending of C$80.9bn, representing a 1% increase on the 2019 budget. Wálmaro Gutiérrez, president of the congressional economic commission, said that the budget was based on a GDP growth forecast of 0.5% for next year after two years of negative growth. Following a visit to the country in November, the International Monetary Fund (IMF) forecast that the economy would shrink by 5.7% in 2019 and contract by 1.2% in 2020 “before gradually recovering to a low level of growth over the medium term”.

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