El Salvador: Economic Growth to Accelerate in 2020

The Central Bank estimates that in 2020 economic growth will be 2.5%, which would exceed the 2.3% projected at the end of 2019.

Wednesday, January 8, 2020

The continuity in the application of public policies aimed at improving the environment for local consumption and investment, allows to foresee a slight rebound in the dynamics of production in 2020, with an estimated annual rate of 2.5%, reported the Central Bank (BCR).

The BCR report states that "... The strengthening of citizen security, consensus on key issues such as the government budget, as well as the search for greater international cooperation and public investment, will facilitate that the current better business climate translates into greater effective investment.

Positive effects are also expected following the delay in the end date of the TPS, as well as the downward trend in international interest rates. Said factors could counteract a greater deterioration of external demand, product of the weakening in the world and US economic growth.

The projections made include risks such as the worsening of commercial conflicts worldwide, greater deterioration in the performance of the North American economy and of the Central American region and its impact on local activity.

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More on this topic

Economy: Construction and Tourism to Boost Growth

January 2020

In Panama the government estimates that in 2020 the economy will grow between 4% and 4.5%, a rise that would be determined by the behavior of construction, tourism and exports.

According to estimates from the Ministry of Economy and Finance (MEF), by the end of 2019 the increase in the Gross Domestic Product (GDP) could fluctuate between 3% and 3.5%, while by the present year 2020 it will be between 4% and 4.5%.

Economy: Predictions Reserved for the Region

July 2019

The outlook for some economies in the region for 2019 is not the best: in Nicaragua GDP is expected to fall between 5% and 7%, while in Costa Rica the growth estimate at the end of the year was reduced from 3.2% to 2.2%.

The estimates of the Nicaraguan Foundation for Economic and Social Development (Funides), presented in its "Informe de Coyuntura - Julio 2019", indicate that by 2019 an economic contraction of between 5.4% and 6.8% will be reported in the country.

Positive, but Insufficient Projections

January 2019

The Central Bank estimates that Costa Rica's economy will increase by 3.2%, mainly because of private consumption and a rebound in public investment.

According to the Central Bank's 2019-2020 Macroeconomic Program, the Costa Rican economy will increase by 3.2% in 2019 and by 3% in 2020.

Guatemala: 2019 Better Than 2018?

December 2018

The Bank of Guatemala expects next year's economic growth to be better than in 2018, which would be caused by higher public spending and the growth of family remittances.

Authorities of the Bank of Guatemala (Banguat) informed that the Guatemalan economy will close 2018 with a nearly 3% growth, however, for next year is expected that the increase in GDP will be in the range between 3% and 3.8%.

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