In November 2019, the Consumer Price Index in El Salvador reported a 0.12% monthly variation, explained in part by price increases in the alcoholic beverages and electricity, gas and other fuels divisions.
From the report of the General Directorate of Statistics and Census:
Because of factors such as business closures and lack of opportunities, it is estimated that criminal activity costs Honduras and El Salvador 16% of GDP, and in the case of Guatemala, its losses could amount to 7% of its production.
In Central America, the human costs of crime remain one of the highest in the world. El Salvador, Guatemala, and Honduras—referred to as the Northern Triangle— account for about four-and-a-half percent of homicides worldwide despite only having about one-half-percent of the world's population.
Last year the country received $5.65 billion in family remittances, which is 5% more than the amount reported in 2018.
In 2019, the central zone of the country received 36.6% of total remittances, equivalent to $2,069.7 million, followed by the eastern zone with 32.1%, or $1,811 million.
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.
Nayib Bukele announced that his administration will implement the "Economic Takeoff Plan", which aims to create the conditions for the economy to grow above 3.5%.
The plan will focus on articulating government efforts in the agricultural sector, telecoms through connectivity and education focused on preparing the new generations in the framework of the fourth industrial revolution.
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.
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).
In the first nine months of the year, the Volume Index of Economic Activity and the sales indicator of FUSADES reported positive variations, however, they are lower compared to what was recorded in the same period of 2018.
According to the "Economic Situation Report up to November 2019", prepared by the Salvadoran Foundation for Economic and Social Development (FUSADES), the Salvadoran economy has experienced a tendency to lose dynamism, in the second quarter of 2019, economic activity grew only 1.98%, which is lower than the 2.71% recorded a year ago.
In September, the Consumer Price Index in El Salvador reported a monthly variation of -0.15%, partly explained by price declines in the Clothing and Footwear and Transport divisions.
From the General Directorate of Statistics and Censuses report:
In its latest update of economic growth projections for 2019, ECLAC estimates that the Dominican Republic will close the year with a 5% increase, followed by Panama, which would reach a growth rate of 3.7%.
According to economic growth projections for Latin America, which were estimated by the Economic Commission for Latin America (ECLAC) and updated in November, the Dominican Republic will be the country in the region that will increase its production the most this year.
For the IMF, the Salvadoran authorities are dealing firmly with crime and corruption and are beginning to improve the business environment in order to support economic growth.
In 2019, real GDP growth is expected to be 2.5% as a result of the solid confidence of the business sector, reported the International Monetary Fund (IMF) after its visit to El Salvador.
In the first nine months of this year, the country received $4.159 million in remittances, surpassing in 4% what was reported in the same period of 2018.
During September the country recorded $459 million in remittances, more than the $429.3 million received in the same month in 2018.
After the economies of the region grew by 2.6% in 2018 as a whole, the IMF estimates that 2019 would close with a rise of 2.7% and could reach 3.4% by 2020.
The document "World Economic Outlook", prepared by the International Monetary Fund (IMF), states that for Panama the projected growth of the Gross Domestic Product (GDP) for 2019 was reduced from 5% to 4.3%.
In the 2019 Global Competitiveness Index, Costa Rica, Panama, Guatemala, El Salvador, and Nicaragua fell back in the ranking, while Honduras registered no changes and the Dominican Republic was the only country that improved.
According to the report by the World Economic Forum, during 2019 Costa Rica ranked 62 out of 141 countries. It was followed by Panama at box 66, the Dominican Republic at 78, Guatemala at 98, Honduras at 101, El Salvador at 103 and Nicaragua at 109.
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