El Salvador: Government's Plan Will Not Replace 'Drawback'

Exporters are concerned that the government's $175 million investment in the sector will not make up for the loss of incentives.

Thursday, August 5, 2010

El Salvador's Corporation of Exporting Companies, known as COEXPORT, believes the impact on the export sector of the $175 million government investment plan will be minimal.

Francisco Bolaños, president of COEXPORT, told Laprensagrafica.com that, "according to our calculations, the employment bonus will cover around 4,000 jobs while job losses are in the region of 28,000. This is an example of where the budget falls short. Let's remember that the main aim is to create jobs and this is why much more is needed".

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