The economy of The Savior grew by 3.5% in 2023, as revealed this Thursday by the president of the Central Reserve Bank (BCR), Douglas Rodriguezwho also pointed out that growth between 3 and 3.5% is projected for this year.
Rodríguez indicated in a press conference that in the fourth quarter of last year a growth of 4.5% was recorded, which led to modifying the 2.7% projections that the Central Bank had made for that year.
He stated that the increase in tourism and public and private investment in the construction sector were “some of the main drivers of said growth.”
The president of the BCR highlighted that the construction sector registered a double-digit increase and reached 17.9%, as did electricity, which reached 14.6%, professional services with 11.1% and services leisure – such as artistic, cultural and sporting – with 10.2%.
He pointed out that government policies on security have been “key” to achieving the 3.5% growth, as well as the increase that tourism is experiencing.
El Salvador has been under an emergency regime since March 2022 to combat gangs, a measure that has contributed, according to the President’s Government Nayib Bukeleto the reduction in homicides, a trend that began after 2015.
The president of the BCR added that by 2024, economic growth is projected between 3.0% to 3.5%, “driven by public and private investment, tourism and a security environment, as well as by the recovery of external demand.” that will favor exports. EFE (I)
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