It is expected that between 2020 and 2028 the economy will grow 2.1% according to figures provided by the International Monetary Fund (IMF), a slow growth caused by several factors facing Latin America and the world.

He said that the salvadoran economy has faced a series of monetary and fiscal policy crises.

The collection levels have grown 26.9% in 2021, but COLPROCE has registered a slowdown in this sector in 2022 of 11%, due to the low levels of economic growth.

He said that 45% of tax collection comes from consumption taxes and not in wealth, inheritance and capital gains taxes.

COLPROCE adds that it is very concerned that in the next 10 years El Salvador will present the highest tax losses from multinational companies, amounting to 0.9% of the Gross Domestic Product (GDP), or US$236 million.

Another area that COLPROCE visualizes is the increase in inflation caused by the rupture of the supply chain, by the war in Ukraine and by the price increases of corporate profits.

Inflation has dropped from 7.1% in december 2022 to 3.8% in june, but unfortunately food and beverage prices are doubling the increases.

Translated by: A.M