The chief of staff, Alex Segovia, said in a press conference that plans are to invest in 2012 $173.5 million in social security and $644.5 million in infrastructure projects, totaling $ 818 million.
The funds will be used to finance productive projects as well as promoting public-private partnerships.
By 2011 there will be $ 30 million, said Alex Segovia, the Presidency’s Technical Secretary, $ 10 million from Banco Multisectorial de Inversiones and $ 20 million which are being negotiated with the World Bank.
Stretch "3B" of El Salvador's major new road will be built by the consortium formed by Contein Cortázar and Gutiérrez-La Herrera.
The $18.4 million contract comprises the design and construction of 22.7 km of surface transport infrastructure of which 4.2 km is brand new while 18.5 km represents the widening and upgrading of an existing highway.
The Government of El Salvador plans to invest $4.86 billion until 2014, but has only secured funding for $2.32 billion so far.
Presidential secretary Alex Segovia explained they have already prioritized the government’s projects and programs, defining define which ones receive funds first.
The recession was caused by less international demand and lower domestic consumption.
Government authorities and the International Monetary Fund added they expect the economy to grow 1% in 2010.
"Among other macroeconomic variables, remittances dropped 8.6% in 2009, which translates to $321.7 million less than in 2008. Credit to the private sector fell -5.7%, according to preliminary figures", reported Elsalvador.com.
The Government will create a commission to discuss the tax reform project with private enterprises.
Alex Segovia, Technical Secretary for the President, explained that this commission will analyze the proposal, in order to modify aspects that may could affect the country.
The Government confirmed the reduction of the economy in 2009; GDP variation will be around -2.5% by the end of the year.
The new figure comes after reviewing macroeconomic data, as the initial forecast was -1%.
"For 2010, we had forecasted zero growth, but after the revision, we are expecting positive growth between 0.5% and 1%", said Alex Segovia, head of the Technical Secretary, to newspaper Elsalvador.com.
Exporting companies from El Salvador are demanding an integral exports policy from the Government.
According to the Corporation of Exporting Companies, known as COEXPORT, the most important items of such policy should be a financial guarantee fund and credit insurance.
The nation's fiscal situation is one of the biggest problems the new governemt will face, according to an economic analysis done by Carlos Acevedo, an economist from the United Nations Development Program (UNDP); Roberto Rubio, executive director of the National Foundation for Development; and economist Alex Segovia.
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