Honduran economy exceeds IMF projection and will grow between 8 and 9 percent in 2021

TEGUCIGALPA, Honduras, Nov. 8, 2021 /PRNewswire/ -- The growth of the Honduran economy in 2021 will be between 8 and 9 percent, much more than was predicted a few months ago by the Central Bank of Honduras (CBH) and the International Monetary Fund (IMF), stated Honduras President Juan Orlando Hernández.

The announcement was made during the launching of the program "Better Life" to strengthen the micro and medium size entrepreneurs and the Honduran social economy sector.

"We are in a frank economic growth again, despite the pandemic and the two tropical storms (Eta and Iota) that hit the country at the end of 2020," said the president.

"I am pleasantly surprised because the CBH and the IMF had told us about four or five months ago that we were going to grow between 3.2 to 5.2 percent, that was the range. Now it turns out that base on an updated evaluation, the growth range of our economy will be between 8 and 9 percent. That is a new record" Hernández said.

The estimation  of the economic growth was adjusted upward during the fifth review of the Honduran economy by the IMF.

Hernández stressed that, in terms of job creation, 8 out of every 10 jobs approximately are generated by micro entrepreneurs, which is why his administration decided to prioritize this sector.

The micro, small & medium  enterprise constitute an important pillar for the Honduran economy since they generate 70 percent of the jobs in the country.

These sectors contribute to reduce social vulnerability by promoting inclusion; therefore, it is an important social catalyst that deserves a more comprehensive, sustained attention in synergy with the institutional and  legal frameworks to ensure the necessary political, financial and technical support for its consolidation.

Source: https://presidencia.gob.hn/press/blog-node/econom%C3%ADa-hondure%C3%B1a-crecer%C3%A1-entre-8-y-9-este-a%C3%B1o

Press Contact: Jorge Flores
Email: [email protected]

SOURCE Government of Honduras