LatinNews Daily - 12 September 2022

In brief: Nicaragua claims strong Q2 2022 growth

*Nicaragua’s central bank (BCN) has released new figures which show that year-on-year GDP growth in the second quarter of 2022 was 4.3%, down from 5.7% in the previous quarter. According to the BCN, this brings the country’s GDP accumulated growth in the first half of 2022 to 5.0%. As regards different sectors in Q2 2022, hotels & restaurants was up 19.3% year-on-year, followed by trade (up 8.3%), manufacturing industry (6.6%), and agriculture (6.5%), while livestock was the only sector to post a contraction (-0.2%). The BCN’s president, Ovidio Reyes, said that since the start of the year, the BCN had forecast Nicaragua’s GDP growth for 2022 at between 4-5% and this estimate was maintained. In its latest (August 2022) forecast, the United Nations (UN) Economic Commission for Latin America & Caribbean (Eclac) is expecting Nicaragua’s GDP to grow 3.0% in 2022, below the 4.1% average for Central America and down from 10.3% in 2021 on World Bank figures.

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