No End In Sight To Fiscal Slippage

BMI View: The absence of effective measures to combat Guatemala's rapidly deteriorating fiscal accounts has seen the hole in the government's accounts swell to GTQ5.4bn in the year-to-October, from GTQ0.1bn in the same period in 2008. Going forward, with congress failing to pass a reduced budget for 2010, expenditure levels are set to remain elevated, further adding to the fiscal deficit.

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