Likewise, the report highlighted that changes in the United States always bring repercussions to El Salvador, as is the case of unemployment which, for april 2024, the unemployment rate for the US reached 3.9% and continues fluctuating around 3.5% to 3.8%, even with the deceleration of production compared to the previous year, and greater pressure in the prices of intermediate products or raw material as in the case of fuel.

Additionally, inflation oscillates between 3.5% and 3.4% and the industrial production index remains low at -0.4%.

This implies a lower economic growth than expected for the US, affecting El Salvador and other countries in the region, as it is the main trading partner.

Banks continued with positive data, increasing credit balance by 4.5% and deposits by 6.1% interannual. Also, bank solvency (equity fund over weighted assets) reached 14.20% and banks' loan loss reserves reached US$447 million.

In addition, it was highlighted that for april 2024, the financial sector is the economic segment with the highest growth, reaching 7.7% of inter-annual variation according to the Economic Activity Volume Index (IVAE), the trend shows a deceleration compared to the last months of 2023, it is expected that with the increase of the balance of deposits and credits this trend will change.

Translated by: A.M