Nicaraguan Economy – the Future Looks Bright

NSCAG News | on: Monday, 17 January 2011

Francisco Mayorga, Nicaraguan financial economist

Francisco Mayorga, Nicaraguan financial economist

Francisco Mayorga, the distinguished Nicaraguan financial economist, has predicted that the country may be entering a period of accelerated growth in marked contrast to what he calls “the stagnation of the 1990s”. Mayorga expects the Nicaraguan economy to grow by between 5.5%-5.7% during 2011 and that inflation will fall.

He attributes this growth to the economic policies of the government, which have favoured investment, created a stable currency and implemented social programmes that are effective in redistributing wealth.

Nicaragua’s Minister of Development Industry and Commerce, Orlando Solorzano has also underlined the importance of the “stable and sustainable relationship” between government, business and workers, which has seen the value of exports increase 33%.

This growth is attributed by him to the strategic identification by both government and business of new markets, including Venezuela, Russia and Taiwan, and also the European Union, with whom Central America has now signed an agreement of association which will take effect in 2012.

In Nicaragua trade unions form part of the Sandinista government and play an active role in developing policy.

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