Friday, 14 October 2022 01:14

El Salvador's GDP to grow 2.6% according to IMF report

Written by Evelyn Alas

According to the report of the International Monetary Fund (IMF), called "World Economic Growth Prospects", El Salvador will have a 2.6% growth in its Gross Domestic Product (GDP).

This is the lowest growth rate in Central America, below Honduras and Guatemala, which will grow 3.4%.

The report lowers the growth projection that was made in april of this year, when it was 3%, attributed to the global economic behavior that points to an economic slowdown without reaching a recession.

Efectos de la pandemia del Coronavirus sobre la economía global y local –  Universidad de Oriente

For the economy of Latin America and the Caribbean, they foresee a growth of 3.5% in 2022 and 1.7% in 2023.

In the world economy, they foresee that world growth will decelerate from 6% in 2021 to 3.2% in 2022 and 2.7% in 2023.

Classifica università Economia: le migliori secondo Censis – LiveUnict

World inflation is forecast to rise from 4.7% in 2021 to 8.8% in 2022, but decline to 6.5% in 2023 and 4.1% in 2024.

Economía mixta – Objetivismo.org

Apart from the global financial crisis and the acute phase of the COVID-19 pandemic, this is the weakest growth profile since 2001.

The IMF says that the course of monetary policy should be maintained to restore price stability, and fiscal policy should seek to alleviate cost-of-living pressures while maintaining a sufficiently restrictive stance to be aligned with monetary policy.