2024 was a year of inflection in the economic cycle, where there was moderate growth after the recession of 2023. The growth observed last year was mainly driven by: i) a strong rebound in primary activities, such as fishing; ii) a notable increase in public spending, with double-digit increases in both State remuneration and public investment; and iii) greater dynamism in private consumption in 2H, largely explained by the temporary effect of the withdrawal of funds from the AFPs.
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Analyst
At the end of January, the Registry of Political Organizations counted 41 parties with current registration and 33 organizations in the registration process.
Last week, Congress removed Energy and Mines Minister Rómulo Mucho from office with 80 votes in favor, 4 against, and 10 abstentions. Of the 13 parliamentary groups in Congress, 11 supported the motion.
In the third quarter of 2024, the economy showed a more pronounced recovery. During the quarter, a series of indicators linked to local demand recorded a better performance than in the first half.
