Analysis by Region - Emerging Markets - Guatemala

Analysis by Region - Emerging Markets - Guatemala

We have raised our 2023 GDP growth forecast for Guatemala by 0.3ppts to 1.9%, following a 4.1% GDP expansion in 2022 that was broadly in line with our estimate. We expect the economy to cool after overheating during the post-pandemic recovery and believe uncertainty about the June 25 presidential election will limit economic sentiment and investment. Moreover, slower global trade could offset record levels of remittances. We believe risks to the outlook are broadly balanced.