Salvadoran economy, slow but still sure
It all depends from which perspective you are observing. The same can be said of the economic balance of the Salvadoran market for the first semester of 2008.
Monday, September 1, 2008
While some sectors are warning that the situation has all the symptoms of the preamble to a strong slow-down in production activities, other voices are of the opinion that they have weathered the storm and that the effects are not as bad as feared.
Despite the high inflation, the country is still projecting high growth, unlike other countries.
Driven by exports from free zones and stable prices, the country's growth has exceeded all expectations.
The Central Bank has cut its growth forecast for GDP for the year to 4% - 4.5% and expects inflation to be between 6.55% and 7.5%, higher than initially expected.
El Salvador's Economic Cabinet announced that its projection for economic growth this year has been reduced from 4.5 to 4 percent.
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