This Monday afternoon, the Central Bank (BCCR) will review the main projections on the economy that it made in January for the 2019-2020 period.
At that time, the economic growth projection was 3.2% for this year and 3% for the next.
Throughout this year, most of the activities have not had the expected performance and therefore, these calculations are unlikely to be fulfilled. This was confirmed by Rodrigo Cubero, president of the BCCR.
Based on the evolution of the economic activity observed in the first half, there is a probability that the growth projection for 2019 will be revised downwards in the review of the 2019-2020 Macroeconomic Program,”
said Cubero.
According to the president of the entity, the Central Bank has repeatedly stated the convenience and need for the government to have legislative authorization to access external financing, including the placement of external debt bonds (Eurobonds), as this would improve the financing conditions of the government (with lower rates and longer terms) and would help reduce pressure on internal interest rates. With this, the fiscal situation would be improved and a boost would be given to credit growth and, thus, to economic recovery and job creation.