Economic activity in Nicaragua drops to -12.1%

The monthly economic activity index (IMAE) of Nicaragua declined to a negative 12.1 percent in June, when it was 3.9 percent a year ago, a drop of 16 percentage points, according to a report from the Central Bank of the Middle East. American country (BCN) released yesterday in the middle of the socio-political crisis of the country.

The IMAE in June last year was 3.9 percent, but already in May of this year it reflected a minus 4.9 percent and in June reached minus 12.1.

The IMAE is an indicator that measures the 17 most important sectors of economic activity in a country and is used for investment decisions.

However, even the average annual growth amounted to a positive 1.3 percent, although the decline was 2.6 percent last May and 5.2 percent in June 2017.

The accumulated variation also gives red figures in -1.2 percent, but in May this was 0.9 and in June 2017 6.1 percent, the entity explained in his document.

The BCN indicated in the report that only 4 of the 17 activities that were measured last June showed higher growth: agriculture by 3.9 percent, health by 3.6 percent, education by 2.2 percent and private ownership by 1, 3 percent.

Hotels and restaurants reported a decrease of 45.9 percent, followed by a construction of minus 35.6; trade with minus 27.1; cattle with less 25.7 and less 17.4 percent of the cuts in the processing industry, one of the most pronounced contraction, according to BCN data.

The manufacturing industry decreased by 17.4 percent, due to lower production of meat, beverages, textiles, non-metal products, armor, petroleum products, among others, the bank said.

Until April 18, the date of the crisis, Nicaragua was one of the countries with the highest economic growth in Central America, and expected an expansion of 4.5 to 5 percent, with a cumulative inflation of between 5, 5 and 6 , 5 percent in 2018.

Now the BCN calculates that the Nicaraguan economy as a result of the riots could grow 1 percent and the economic losses estimated at 430 million dollars.

Nicaragua continues the bloodiest socio-political crisis since 1980, which has been dead between 317 and 449, with Daniel Ortega also as president.

The protests against President Daniel Ortega and his wife, Vice President Rosario Murillo, began with failed social security reforms and became a demand for the leader's resignation, after eleven years in power, with allegations of ill-treatment and corruption against him .

Clergy supports the IACHR

The cardinal of Nicaragua, Leopoldo Brenes, said yesterday that he does not believe that the Inter-American Commission on Human Rights (CIDH) will report on the country's crisis based on slander, as the Daniel Ortega government has stated.

"The IACHR is a professional body, I think it has international recognition, it is part of the OAS (Organization of American States), I do not think it places people there that are false," Brenes said, then told him by journalists was asked. .

Brenes also noted that catechists and other deputies from the Catholic Church fled Nicaragua because of the persecution of the government, amid a crisis that left hundreds of deaths in protests against President Daniel Ortega, today informed of the Nicaraguan cardinal, Leopoldo Brenes.

"Unfortunately, some catechists, some delegates of the word, have servants of communion who have had to leave the country," Brenes told reporters. The Catholic Church has been attacked in various ways, both by Ortega and by his followers, who have even been attacked and have caused bodily harm to the clergy.

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