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Tuesday, 16 April 2024 21:34

IMF forecasts national economic growth of 3%.

Written by Denis Muñoz
IMF forecasts national economic growth of 3%.

The International Monetary Fund (IMF) has adjusted its growth estimates for El Salvador and now expects the country's economy to grow 3% by the end of 2024, reflecting the current dynamism of the salvadoran economy and approaching the 3.5% to 4.0% range projected by the Banco Central de Reserva.

The IMF joins other organizations that have also been optimistic about El Salvador's growth this year. For example, the World Bank foresees a growth of 2.5%, instead of the 2.3% predicted in january.

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The Banco Central de Reserva (BCR), places growth between 3.5% and 4%, the IMF forecast aligns more closely with government expectations.

The IMF also expects global economic growth to remain at 3.2% during 2024 and 2025 and acknowledges the resilience of the global economy despite the increase in interest rates by central banks.

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However, the IMF warns that global growth forecast for the next five years, at around 3.1%, will be the lowest in decades. As for global inflation, it is expected to decline from the 6.8% recorded in 2023 to 5.9% in 2024, according to IMF projections.

 

Translated by: A.M

Published in Economy
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