(posted April 7, 6:00 pm) — Finance Minister Iván Acosta this week issued new projections that Nicaragua’s economy will grow 4.5% this year, thanks in part to improving commodity prices— especially coffee — and the recovery of the U.S. economy, projected to grow between 2.8—3.2% this year.
Acosta’s projection is slightly more optimistic than that of the Nicaraguan Foundation for Economic and Social Development (FUNIDES), which estimates Nicaragua’s economy will grow around 4.1% this year.
Acosta said Nicaragua’s foreign direct investment this year is expected to reach $1.5 billion, assuming the long-stalled $1.2 billion Tumarín hydroelectric project, which is apparently back on track after a long delay, continues to move forward in the second semester.
But for now, the increase in coffee prices and the stability of meat prices has the government breathing a little easier, despite a slight dip in the price of gold.
“We’re seeing (improvements) in numbers that two months ago looked different,” Acosta told Sandinista press.