By Nica Biz – May 31, 2021
After a three year period in the red, FUNIDES (the Nicaraguan Foundation for Economic and Social Development) is forecasting Nicaragua’s GDP to grow by 3.7 percent in 2021. This would be the first year of growth since 2017 which was the last year of an eight year run which saw GDP grow annually between 4.4% and 6.5%. This according to a report entitled “Informe de Coyuntura” (Situation Report), released last Saturday 29th May 2021 by FUNIDES.
The Nicaraguan Foundation for Economic and Social Development – “FUNIDES”, is an NGO and independent institution that specializes in research and policy analysis in the areas of socio-economic development and institutional reform. Their objectives are to;
Improve the quality of public policy analysis and the transparency in the execution of these policies.
Promote policies that support the socioeconomic and sustainable progress of Nicaragua.
Provide information to producers and entrepreneurs, decision makers of the public sector and of society as a whole, among others, on the economic and social perspectives of the country.
Encourage civic participation and debate about national policies.
Per Capita, the GDP would be US $2,027 dollars, which would represent an increase of 6.0% compared to 2020, by the same projection.
GDP decreased 2.0 percent in 2020. This was attributed to the Covid-19 pandemic as well as losses and damage caused by the two hurricanes; “Eta” and “Iota” that hit the north east of Nicaragua 10 days apart last November. (Source BCN – Central Bank).