Tuesday, 16 April 2024 21:34

IMF forecasts national economic growth of 3%.

Written by Denis Muñoz

The International Monetary Fund (IMF) has adjusted its growth estimates for El Salvador and now expects the country's economy to grow 3% by the end of 2024, reflecting the current dynamism of the salvadoran economy and approaching the 3.5% to 4.0% range projected by the Banco Central de Reserva.

The IMF joins other organizations that have also been optimistic about El Salvador's growth this year. For example, the World Bank foresees a growth of 2.5%, instead of the 2.3% predicted in january.


The Banco Central de Reserva (BCR), places growth between 3.5% and 4%, the IMF forecast aligns more closely with government expectations.

The IMF also expects global economic growth to remain at 3.2% during 2024 and 2025 and acknowledges the resilience of the global economy despite the increase in interest rates by central banks.


However, the IMF warns that global growth forecast for the next five years, at around 3.1%, will be the lowest in decades. As for global inflation, it is expected to decline from the 6.8% recorded in 2023 to 5.9% in 2024, according to IMF projections.


Translated by: A.M