Thursday, 03 February 2022 18:05

MOP to invest US$1.51 billion in public works to boost salvadoran economy

Written by Evelyn Alas

The President of the Republic, Nayib Bukele, announced the implementation of 10 boosts for the country's economy, which will allow salvadorans to be the main beneficiaries of El Salvador's economic growth and social development.

The first boost is through public works, which will allow the injection of US$1,510 million to the country's economy, in which it is intended to promote investment in public works needed, economic growth, generation of direct and indirect jobs and the benefit that these works will bring to the population.

The Head of State detailed that by boosting the country's economy more than what was done last year, which grew over 10%.

Among the works to be developed, President Bukele highlighted the construction of the new Hospital Rosales with an amount of US$35 million; the Francisco Morazán viaduct, which consists of three parts, with an investment of more than US$245 million, the seven overpasses in the Metropolitan Area of San Salvador, which will have an economic injection of more than US$74 million.

In addition, US$140 million will be invested in the remodeling of the estadio Jorge Mágico González and the Gimnasio Nacional; this does not include the US$130 million for the new Estadio Nacional. The total remodeling of the historic center of San Vicente, only in the historic center US$9.8 million will be invested", detailed President Bukele.

Phase II and III of the Gerardo Barrios Peripheral Highway, two overpasses, as complementary works, of the Claudia Lars Peripheral Highway, a viewpoint on the Camino a Surf City, and the beginning of construction of the airport in the eastern part of the country are also expected to be completed this year.

The government also plans to invest US$480 million through the Dirección de Obras Municipales and US$226 million with the Ministerio de Obras Públicas, not counting what will be invested through the Fondo de Conservación Vial (FOVIAL). It should be noted that one of the initiatives of President Bukele's government will be to promote local companies for the execution of works in municipalities or in certain sectors, which will boost the local economy.

El Salvador has managed to maintain a dynamic pace in the economy, which has led to the generation of more jobs in different sectors.

Thus, to maximize the benefit of growth, President Bukele initiated the implementation of the 10 Economic Impulses plan. The objective is that all the positive results that the country has had in employment, investment and production reach a greater number of people.

In fact, the presentation to the public of these 10 measures took place during the symbolic laying of the first stone of the overpass in the Utila neighborhood, the starting point of the road leading to the Port of La Libertad.

This overpass in Colonia Utila is a US$6.3 million investment. At the same time, it is part of the seven overpasses that the government will build in Greater San Salvador, at a cost of US$74 million. Likewise, this set of projects is on the list of the US$1.51 billion to be executed.

In this regard, the President clarified that priority will be given to small local companies and the hiring of workers in the area.