The Superintendency of the Financial System (SSF) revealed in its data that in January 2024, they recorded $271.3 million more in savings, and totaled $6,222 million, which implies an increase of 4.6% compared to the same period in 2023 when the accumulated amount was $5,950 millions.
“Savings continued to increase during the first month of the year. As of January 31, 2024, savings accounts in the banking sector showed a growth of 4.6%, compared to the same month of 2023,” commented the SSF.
At the same time, he mentions that the figures reflect that Salvadorans “are allocating resources to savings,” a characteristic symptom of the existence of healthy family finances.
It is worth mentioning that data from the same entity until September 2023 indicates that in El Salvador there are 298,641 savings accounts with simplified requirements, which implies a difference of 268,993 openings compared to those that existed in 2019, which totaled 29,468.
In the country there is an effort by the National Council for Inclusion and Financial Education (CIEF) to encourage the population on this issue since, in the words of the president of the Central Reserve Bank (BCR), Douglas Rodríguez, “it is important to encourage “savings in all its forms, mainly from an early age, keeping in mind that making responsible financial decisions is crucial for all areas of life.”
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