El Salvador: $ 770 Million Projected Public Investment

The Government presented the 2011 Investment Plan, which is characterized by its commitment for generating employment and boosting the economy with public investment.

Wednesday, February 23, 2011

In the midst of major challenges for this year, the Technical Secretary of the Presidency, Alexander Segovia, sees the opportunities of public investment and the magnitude of this record budget in the history of El Salvador.

"If we do this planned investment, we believe the impact on the economy and employment and in terms of private investment will be very favorable," said Segovia.

The public investment of about $ 770 million which together with other investments coming from 2010 and which have been rescheduled, will allow the budget to reach an amount of 1.200 million dollars.

The main economic problem in El Salvador is the lack of national and international private investment and low public investment. A key issue for the government is how to promote domestic and foreign private investment, but also through public investment support the private sector and create direct jobs, in some cases permanent and in others temporary.

"We want to make a strategic commitment to economic growth, because we know that without economic growth there will be no employment and no employment means no income for the population and with no income we cannot face poverty," said the Secretary.

Public investment will create 143.100 jobs in 2011.

The Secretary identified two major constraints in public administration. First, an inefficient and centralized state. In this sense it has taken time to convert the institutions to a much more agile and efficient body. The other limitation is the use of resources.

In order to improve public investment the President directed for steps to be taken. The Secretary explained that he has already taken most of the measures.

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