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Nicaragua’s GDP will grow between 6% to 8%

Nicaragua, economía, crecimiento

Nicaragua’s GDP will grow between 6% to 8%

Managua, Nov 27 (Prensa Latina) The Central Bank of Nicaragua (BCN) is currently projecting a GDP growth between six and eight percent by the end of 2021, according to the monthly rate of the economic activity accumulated until September.
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The projected figures also show the recovery of this sector after negative impacts such as the attempted coup against the Sandinista National Liberation Front (FSLN) in 2018 and the passing of hurricanes Eta and Iota through the northeastern region of this Central American country.

According to BCN President Ovidio Reyes, the effective handling of the Covid-19 pandemic, with the vaccination of over 60 percent of citizens, made possible to boost production, strengthen the work of local entrepreneurs and economic expansion.

The president of the Central Bank said that the trade sector increased between eight and nine percent, as well as private and foreign investment and, according to the Report on Financial Markets corresponding to the third quarter of 2021, the stock market grew by 27 percent.

Moreover, the government is committed to consolidating commercial relations with countries such as Russia, in collective urban transportation, the food sector and joint cooperation sponsored by the Mechnikov Latin American Biotechnology Institute.

That modern high-tech platform designed for the develoment and manufacture of immunobiological medicines will guarantee the production of the third Russian Covid-19 vaccine, CoviVac, with an effectiveness of over 80 percent.

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