2024-07-30 21:22:46
Bukeleratified yesterday a law that suspends tariffs on 116 products for 10 years to contain the rise in food prices, reported the Presidential House.
“President Nayib Bukele has sanctioned the Special Law to Promote Competitiveness and Facilitate Access to Expanded Basic Basket Products,” he said on his X account.
Bukele said on Tuesday that the measure would generate “more international competition and more local production at the same time.”
In addition to food, the law also suspends For 10 years, tariffs on the import of agricultural products such as fertilizers, fertilizers, animal feedamong others.
The measure has been criticized by producers, economists and opposition politicians who believe that it will encourage food imports to the detriment of National Production.
The cost of the basic food basket per family, according to the Central Reserve Bankis 256.56 dollars per month, compared to a stagnant minimum wage of 243 dollars in the agricultural sector, 359 in the maquila sector and 365 in commerce and industry.
El Salvador imports 90% of its vegetables, fruits and legumes, according to official data.
Also a good part of cereals, oils, milk, meats, canned products and basic grains such as beans, among others.
At the beginning of July, the government began inspections in supermarket chains after Bukele ordered the fight against business “mafias” due to the rise in food prices. The president also opened agricultural markets mobile phones to encourage direct sales and avoid intermediaries in an attempt to contain price increases.
In addition, the Development Bank of Latin America (CAF) A few days ago, the entity and the president approved two loans for 465 million dollars for El Salvador to build an airport and lay an underwater internet cable. Nayib Bukele.
According to a statement from CAF, “two operations have been approved that will boost El Salvador’s air and digital connectivity.”
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2024-07-30 21:22:46