El Salvador: GDP Could Rise 2.4% at End of 2016

Despite latent risks in the fiscal area, the Central Bank estimates growth of 2.4% for GDP, helped by an increase in consumption and low inflation.

Monday, October 3, 2016

Authorities at the Central Reserve Bank of El Salvador warned that the growth forecast could be affected by possible increases in interest rates or in international oil prices. Political polarization and the delicate fiscal situation also constitute threats to the expected growth. 

The main engine of the Salvadoran economy is in the domestic arena, where the increasing flows of remittances from abroad allow the pace of growth in consumption to be sustained.

From the conclusions of the report by the Central Bank:

El Salvador continues in a phase of expansive growth and forecasts are in line with those reported by international agencies.   

In the second quarter of this year, the country grew 2.5%, above the 2.3% recorded in the same period in 2015. 

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