Among these measures are the suspension for three months of the Fondo de Estabilización para el Fomento Económico (FEFE) and the Contribución al Transporte (COTRANS).

Another measure that managed to contain price increases was the suspension, for one year, of import tariffs on 20 basic products of the basic food basket, such as oil and shortening, rice, sugar, onions, chili peppers, fertilizer, black and red beans, corn flour, wheat, milk, yellow corn, white corn, oranges, potatoes, bananas, cabbage, tomatoes, wheat, cereal and animal feed.

The President also announced that the propane gas subsidy would be maintained, which for 25 pound cylinders remains at US$8.04, benefiting more than one million salvadoran households.

In addition, he committed to absorb the increase in international gas prices, thanks to which our country maintains the lowest price in the region, which continues to benefit the domestic economy of low-income families. Simultaneously, a deployment of teams from the Defensoría del Consumidor, the Dirección de Minas e Hidrocarburos was implemented to inspect gas stations and vessels that bring imported fuels into the country, in order to ensure compliance with the elimination of FEFE and COTRANS.

Public transportation fares were also maintained and authorizations to import food products were expedited; in addition, as of april 5, it was established to maintain a maximum price for fuels, thus avoiding the increase in the price of basic food basket products, since this prevented an increase in the cost of freight.

Thanks to these and other measures taken in a timely manner by the Central Government, El Salvador maintains the second lowest inflation in the region, which for february was 6.89%, below Honduras with 9.8%, Guatemala 9.9% and Nicaragua, which is above 10%.

Translated by: A.M