The Nicaraguan Minister of Finance and Public Credit, Iván Acosta, said Thursday that Nicaragua had “a good year” in economic matters, and highlighted the behavior of exports and remittances in 2022.
“In general terms, the country had a good year, with extraordinary results for the economy,” the official said at a press conference with official and Sandinista media in Managua.
Nicaragua will close 2022 with total exports of 7.5 billion dollars, highlighted Acosta.
Meanwhile, the income in remittances relatives will reach close to 3,200 million dollars, a new record, he indicated.
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The Nicaraguan economy received a new record of 2,578.3 million dollars in family remittances between January and October of this year, 47.6% more than in the same period of 2021, according to figures from the Central Bank of Nicaragua. This figure represents 18.4% of Nicaragua’s gross domestic product (GDP).
On the other hand, the Minister of Finance said that they expect foreign direct investment in Nicaragua to be close to 2,000 million dollars.
Nicaragua attracted 1,042.7 million dollars in Foreign Direct Investment (FDI) in the first half of this year, 23.4% more than in the same period of 2021, according to the Central Bank.
Meanwhile, in terms of income from tourism they expect to invoice more than 500 million dollars.
The Government of Nicaragua projects growth of 4% of GDP in 2022, the second consecutive year of growth after three years of closing with a red balance, and less than 10.3% in 2021. The Nicaraguan economy had contracted by a average of -3.03% per year in the period 2018-2020.
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GDP decreased by 2% in 2020, as a result of the covid-19 pandemic and the damage caused by hurricanes Eta and Iota, in November of that year, according to the monetary authority.
In 2019 it fell 3.7% and 3.4% in 2018, due to the sociopolitical crisis that has affected the country for 56 months, according to the issuer.
Nicaragua foresees a growth of 3% to 4% of its economy in 2023, according to the authorities.
