El Salvador's Saca shrugs off criticism of government subsidies

President Antonio Saca of El Salvador, under fire over his subsidies policy said he had no intention of changing it now after four years in power. Indeed, he added, he might even increase subsidies.

Thursday, May 29, 2008

Several international institutions and national organizations say that Saca's indiscriminate subsidies help the middle classes more than the poor, who are the most in need.
But Saca told journalists at an economic forum that subsidies were even more necessary than ever in view of the slowdown in the world economy.
But Juan Héctor Vidal, one of only two economists invited the forum, accused Saca of "sweeping the nation's problems under the carpet." The government's finances would be sure to take a hit sooner or later, Vidal added.

More on this topic

Salvadoran President has popularity rating at 56%

September 2008

The president of El Salvador, Elias Antonio Saca, maintains a 56% popularity rating at less than year from the end of his term.

According a survey by "La Prensa Grafica", Saca "has managed to keep his popularity high, despite growing discontentment by citizens about the country's bad economic situation."

El Salvador doubles transport subsidies

June 2008

El Salvador President Antonio Saca has confirmed that the government has agreed to double the amount of the subsidy to transporters.

The subsidy for buses and microbuses will be doubled, with the hope that this stabilizes the fares for urban transport at between 25 and 28 cents, Saca said.

El Salvador's Saca under fire on both sides

June 2008

President Antonio Saca of El Salvador headed into his last year in office under fire from both sides of the political spectrum.

Luis Membreño, an economist, said the government had lost its way after a "sound approach" in its early years that led to the recovery of economic growth and a much-needed tax reform.

Saca pledges to maintain subsidies in El Salvador

April 2008

The government of El Salvador will maintain subsidies on basic services while implementing an austerity plan to confront the nation's economic crisis, President Elías Antonio Saca said.

In a message to the nation, Saca said he wanted to be frank. "I know the situation is difficult, and there's nothing to indicate that this is going to change in the short term," he said.

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