Salvadoran construction sector in crises.
The amount of sector loans decreased 22.5% in eight months, the number of loans dropped by half and $60million in bidding rounds were never implemented.
Monday, November 10, 2008
The situation is critical, especially since this drop may be even greater because final quarter results for the year are not included, explained the Executive Director of Casalco, Ismael Nolasco.
Businessmen want to expedite the process of approval by the Legislature, in which Proesa is the governing body, and which may include water and sanitation projects.
Salvadorans are gearing more towards renting homes, as buying real estate is becoming increasingly difficult, due to little credit and complicated paperwork.
The prospects of the construction sector for this year are a 4% decrease.
The 6 airlines operating in the country experienced a drop in yearly sales of around 14.6%, or a reduction of $10.5 million in income.
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