2024-08-15 18:40:28
The Economic Commission for Latin America and the Caribbean (ECLAC) has increased El Salvador’s economic growth for 2024 from 3% to 3.5%, following the presentation of a new edition of its annual report Economic Survey of Latin America and the Caribbean 2024: Low-growth trap, climate change and employment dynamics.
According to the study by the entity, the country’s growth projection would be above that of Central America and Mexico, which is estimated at 2.2%, and that of Latin America as a whole, at 1.8%. The subregion that would experience the lowest growth is South America, with 1.5%, which by 2025 would be recovering to 2.4%.
At the beginning of 2024, ECLAC had projected the country’s economic growth at 2%, a rate that improved to the current 3.5%, which is in line with the Central Reserve Bank’s (BCR) projections for this year.
Meanwhile, the International Monetary Fund (IMF) confirmed that the Salvadoran economy will grow by 3% in 2024. The multilateral had set this indicator at 1.9% in October 2023, but changed it thanks to the results at the end of 2023, set by the BCR at 3.5%.
The IMF also continues to place the Salvadoran economy in positive growth figures compared to Latin America and the Caribbean, a region that as a whole will grow by 2% this year, according to the entity.