The national economy is going through a hard time due to the pandemic and social conflicts. A slowdown in economic growth observed, reaching 2.2% in 2019. The fiscal deficit that same year was 7.2% of the GDP and the trade balance closed with a shortage of 3.3%. Reserves decreased from 51% of the GDP in 2012 to 16% of the GDP in 2019 ($6.47 billion). External debt increased by 26% of the GDP. The National Institute of Statistics reports that unemployment as of June 2020 rose to 9.6%, from 4.8% at the end of 2019. The National Chamber of Commerce (CNC) announced that losses, from all sectors, could reach $3 billion by the end of the year.
Source: El Diario