El Salvador: Challenges for the New Government

Improving trust between the public sector and businessmen, and recovering the productivity of the economy, are some of the challenges facing the administration of President-elect, Nayib Bukele.

Wednesday, February 6, 2019

After last February 3, the candidate of the Gana party, Nayib Bukele, won the first round of presidential elections in El Salvador, the business sector anticipates the challenges of the new administration.

See "Winds of Change for El Salvador?"

Rigoberto Monge, an economist and advisor to the Salvadoran Association of Industrialists (ASI), told Elsalvador.com that "... the new government's commitment, in its first 100 days, must be to generate new conditions for national productivity to recover in the next five years, opening up to more products and not just depending on the service sector or a dynamic where remittances have generated a “false economic stability”."

Luis Cardenal, president of the National Association of Private Enterprise (ANEP), explained that it is "... fundamental for the government to be able to provide better services, rely less on subsidies to alleviate poverty and not fall into probable defaults before international organizations. We can not stay under the current fiscal situation where there is an excess of current spending and internal and external debt, decisions must be taken to stop these aspects so that the government in the long term has liquidity and is efficient in its administration."

Another challenge will be to take advantage of the competitive benefits of the Free Trade Agreements, which in the view of businessmen have not been fully explored in the last five years.

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The Salvadoran business sector welcomes with good expectations the announcement of the Bukele administration to implement the "Economic Takeoff Plan", and they assure that they are willing to join efforts.

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