Nicaragua’s Minister of Finance and Public Credit, Ivan Acosta, has highlighted the importance for Nicaragua of the signing last August of a trade agreement with China, which will come into force in 2024.

Presenting the annual bill on the republic’s general budget for next year to the plenary session of the National Assembly (Parliament) the previous day, the minister recalled that this initiative opens up a world of opportunities in economic terms.

In early September, Nicaraguan authorities said that one of the goals of signing the Free Trade Agreement with China is to make the Asian giant a major supplier of raw materials, materials, consumer goods, machinery and equipment that are not produced here, as well as a buyer of Nicaraguan products.

In presenting the draft budget, Acosta also referred to the forecast for economic growth through October, which is expected to be 3.8 per cent, and next year 4.2 per cent for the same month.

He added that the main resources of Nicaragua’s general budget are allocated to social investment and productive infrastructure, with health, education and poverty alleviation as priorities.

The bill has been referred to the Commission of Production, Economy and Budget, which will begin the consultation process to approve it by 15 December, as reported by Prensa Latina, a partner of TV BRICS.

Photo: Prensa Latina