El Salvador is heading towards economic recovery
The president of the Central Reserve Bank announced that his country will be the only one in Central America that will recover the production levels in force before the pandemic
Authorities of El Salvador announced that it will be the only country in Central America that by the end of 2021 will have recovered the levels of economic activity registered before the Covid-19 pandemic. This was reported by Douglas Rodríguez, President of the Central Reserve Bank (BCR).
Indeed, the Central American country has already reached the levels of production and consumption registered before the global pandemic began, as well as in exports and formal employment rates. In addition, companies have found better scenarios and more incentives to resume their work.
The economic projections for the end of 2021 foresee that the Gross Domestic Product (GDP) “reaches a positive variation of 9 %, the second highest in the region.”
The International Monetary Fund supports the figures issued by the Salvadoran government, and considers that “President Bukele and his team have made the right decisions at the most opportune moment.”
The president of the BCR also indicated that the deputy director of the IMF’s Western Hemisphere department, Julie Kosack, recognized the government’s timely management in the face of the Covid-19 pandemic, by taking “counter-cyclical measures and an expansive fiscal policy that will soon bear fruit.”
According to Rodríguez, the executive will continue developing projects and activities that allow to boost the productive sectors and take care of the family economy.
M. Rodríguez
Source: finanzasdigital.com
