According to the Central Reserve Bank, El Salvador's economy will grow by 3.5% in 2023.

San Salvador, March 21 (EFECOM) 3 to 3.5% is expected.

Rodriguez pointed out at a press conference that growth was 4.5% in the fourth quarter of last year, leading to a revision of the central bank's forecast of 2.7% for the year.

An increase in tourism and public and private investment in the construction sector are “some of the main drivers of this growth,” he said.

The head of BCR said the construction sector registered a double-digit increase to 17.9%, electricity to 14.6%, professional services to 11.1% and leisure – arts, culture and sports – to 10.2%.

He pointed out that government policies related to security are “critical” to achieving 3.5% growth, as well as the increase experienced by tourism.

El Salvador has been under a state of emergency to combat gangs since March 2022, which, according to the government of President Nayeb Buhel, has contributed to a reduction in murders, a trend that began after 2015.

By 2024, economic growth will be between 3.0% and 3.5%, “driven by public and private investment, tourism and the recovery of the security environment and external demand,” the head of the BCR said. “. EFECOM


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