The Finance secretary, Wilfredo Cerrato, said that economic growth was 3.6% in the year 2016 and that the outlook for the present year is very encouraging, product of the fiscal consolidation and proper management of public resources.
After the political and financial crisis in 2009, the national economy has recovered in the last three years of the administration of President Juan Orlando Hernández, with an economic growth of 3.1% in 2014, 3.6% in 2015 and during the previous year.
In the Fiscal Deficit of the Central Government, stated that "three years ago, came in at 7.9%, which represented 32,000 million lempiras in concept of expenses; for 2016 was reduced significantly to 2.7%, which represents a reduction of around 20,000 million lempiras".
On the topic of monetary policy, the holder of Finance indicated that it remained a control of inflation at the end of the year 2016 to 3.3%, which is a good thing because it does not affect the purchasing power of the population or the country in general. In addition it will maintain the Monetary Policy interest Rate (TPM) at 5.5%".
"We have seen that it must do a fiscal reform that is strong, without harming the growth of the economy, without impacting the social issue and the investment in the infrastructure, which as we all know, improves competitiveness, promotes economic growth and generates employment".
In reference to the balance of the Public Debt of the Central Government, this amounts to a total of 9,507 million dollars, which represents a 46% relative to the Gross Domestic Product (GDP), an amount lower than the 48% approved by the National Congress. The Public Debt has experienced a significant improvement in relation to their levels of risk as shown by its main indicators of sustainability.
The Public Investment is generating sources of employment, opportunities, improves competitiveness and reduces poverty. For the present year, between the State and the Public-Private Partnerships (PPPS), will go around 26,305.50 million lempiras. In 2017 the Public Investment will grow by 23% in comparison to the previous year.
The country has achieved improvements in confidence and creditworthiness.
The official said, "to December 2016 Net International Reserves reached a level of 3,887.6 billion dollars, higher than in December of 2015 (3,822 us $ million), equivalent to a coverage of 4.6 months of imports of goods and services. For their part, Family Remittances amounted to US$ 3,974 million, which represents an increase of 0.4% compared to the previous year.
with Regard to the economic reform program of Honduras, Cerrato said, "with the support by the IMF programme, it has obtained considerable progress in restoring macroeconomic stability, reducing the Fiscal Deficit, and addressing certain structural issues. He stressed that for the first time a Government gets to a fifth revision with the IMF".
"In October 2016, the IMF’s executive board completed its third and fourth review under the ASB and FCS. The completion of the reviews allowed Honduras to access the resources by an amount incremental of approximately US$ 168.2 million," he said.
on the other hand asserted, that the product of all the efforts in economic and financial the country has achieved improvements in confidence and credit, which is reflected in the fact that the agency Moody’s raised the rating of country of "B3 with positive outlook" to "B2 with positive outlook.
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