Displaying items by tag: economic growth

Officially recorded remittance flows to low- and middle-income countries are expected to grow by 1.4% to US$656 million in 2023, while economic activity in remittance-sending countries is expected to slow, limiting employment and wage increases for migrants, according to the latest Migration and Development Review published by the World Bank.

According to Moody's rating agency, Moody's explained in an analysis that improved security levels in El Salvador following the Central Government's crackdown on gangs could eventually boost investment as businesses and consumers gain confidence.

The executive secretary of the Comisión Económica Para América Latina y el Caribe (ECLAC), José Manuel Salazar, said at the 2023 Annual Meeting of the World Economic Forum that the average growth rate for the last ten years (from 2014 to 2023 inclusive, considering the 1.3% growth projection for the current year) is only 0.9%.

The President of the Banco Central de Reserva (BCR), Douglas Rodríguez, informed in a morning interview that the economic growth projection for the fourth quarter and closing of 2022 is 2.8%.

The members of the Economy Commission issued a favorable opinion to reform the Law of Industrial and Commercialization Free Trade Zones.

According to the World Bank, El Salvador has experienced modest economic growth in recent decades, with annual Gross Domestic Product (GDP) growth exceeding 3 percent only twice between 2000 and 2020.

The corporation is committed to innovation, technology and job creation to promote economic growth in the region as part of its commitment to the countries where it operates.

The Economic Commission for Latin America and the Caribbean (ECLAC) projects that of the group formed by Central America, El Salvador will grow 2.5% in 2022, as announced today in its annual report "Economic Survey of Latin America and the Caribbean 2022: dynamics and challenges of investment to promote a sustainable and inclusive recovery".

The minister of Finance, Alejandro Zelaya, said in a press conference that, in the case of fuels, the salvadoran economy is saving around US$2.2 million per day, due to the subsidies implemented by the Central Government.

According to Bloomberg news outlet Bloomberg, equity markets are on a positive trajectory since the open, but sovereign bonds are heading in the opposite direction as investors unwind their positions on the prospect of slower economic growth.