During a press conference, the President of Casalco, José Antonio Velásquez, informed that he projects that, for this year, the growth of the construction sector will be similar or higher than 2023, so he estimates that by the end of 2024 there will be a 15% growth.

He also pointed out that, as a union, the construction industry has become the main driver of the salvadoran economy. "We contribute, together with the real estate sector, about 12.5% to the gross domestic product (GDP) of the country", he said.

The dynamization that this industry is experiencing has to do with the commercial, residential, office and industrial sectors, of which between 65 and 70 projects are high-rise and single-level housing.

The President of Casalco believes that employment could increase between 5% and 10% in terms of the number of workers, while labor costs, according to collective bargaining agreements, will increase by 4.5%.

According to the last report of the Banco Central de Reserva, from the production approach, growth was observed in 17 of the 19 activities that make up the GDP, highlighting the highest annual increase: Construction with 17.9%.

Translated by: A.M