Slow Economic Recovery in El Salvador
Of the Central American countries, El Salvador is the one which has the lowest post-crisis economic growth; a situation attributed to the lack of private investment and a poor response from the government.
Monday, November 22, 2010
Analysts polled by Elsalvador.com agree the country has not implemented public policies to promote key sectors such as tourism, investment and exports, as well as effective countercyclical tools.
FMI: "Recessions associated with financial crises tend to be severe. Recoveries from such recessions are typically slow."
Fitch expects that Latin America’s real GDP will contract by 0.9% in 2009, with Brazil’s economy stagnating at best and Mexico contracting by over 2%.
Slow recovery tied to a lagging U.S. economy, 3% growth in 2010 due to increased domestic consumption and rising remittances and international trade.
The agency highlights the country's macroeconomic stability, while noting a slight deterioration of fiscal indicators in recent years.
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