$80 million in Tilapia Exports Expected in 2009

Exports of Tilapia to Europe will begin in June. The first shipments will be sent by air to a Spanish company involved in seafood distribution. These exports are in addition to those already being sent to the US market. Both markets combined should generate more than $80 million in 2009. Exports of Tilapia have risen steadily. $40 […]
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Tourism Industry Will Maintain Investment Levels

Even though there is an international financial crisis, the tourism industry in Honduras is confident that tourism will increase in 2009. In order to be able to sustain this growth in 2009, more than $600 million will be invested in hotels, convention centers and other infrastructure in la Ceiba, Copan, Roatan, Tela, San Pedro Sula and […]
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Government Confronts Private Business

The Honduran government held a press conference today with the participation of the Director of Executive Revenue Office (equivalent to the US’ IRS). During his participation he gave the revenues earned by the different sector of the economy such as hotels, food services, manufacturing and retail. All of these revenues where in two digit million lempira […]
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Unclear Electric Price Reduction Announced

The Honduran government, through the National Electric Company (ENEE) announced yesterday a reduction in the costs of electricity, but it is unclear whether it is a real reduction or just a play with numbers. The current electric bill has a consumption tariff and also a line called fuel price adjustment. The announcement stated that the fuel […]
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First Lost Jobs Reported

The first jobs lost due to the minimum wage increase have been reported in Choluteca’s mayors office. Choluteca’s mayor has officially declared that 147 people will be fired when the minimum wage increase becomes official. The mayors office will not have the capacity to pay the the higher wage salaries with its limited budget. If they […]
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Fuel Shortage in Tegucigalpa

A fuel shortage has been spreading in Tegucigalpa during the past 5 days. Many fuel stations (40%) are reporting they have run out of premium gasoline and the supply is expected to be regularized after next Tuesday when a ship carrying the fuel is expected to arrive. The fuel shortage has not been reported on regular […]
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Government Budget Increased by Lps. 6,000 million

The Honduran government budget for 2009 has increased by more than Lps. 6,000 million. This increase is mostly due to increases in wages for government employees as well as to pay higher salaries to teachers; doctors and nurses in the medical sector.  Of the total budget, 82% is financed by taxes and the difference obtained in […]
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Private Business Leaders To Discuss Minimum Wage

Honduras’ most prominent business leaders will meet today in San Pedro Sula to discuss the minimum wage increase that has been autohorized by the government of Honduras. The minimum wage has moved from Lps. 3,700 to Lps. 5,500, an increase which according to some private business owners will bring a wave of job losses across […]
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