Wednesday, 01 June 2022 01:31

BCR confirms 7% growth in formal employment 2022

Written by Evelyn Alas

The President of the Banco Central de Reserva de El Salvador (BCR), Douglas Rodríguez, said in an interview that, as of February of this year, formal employment grew 7%, that is, 60,192 new jobs.

Likewise, Rodríguez details that up to last february, 919,928 formal jobs were registered in the salvadoran economy, a figure higher than the 881 thousand jobs registered in february 2020 and 859 thousand in february 2021.

He also highlighted that inflation is a factor that is affecting the whole world, but El Salvador is among the 5 countries in Latin America with the lowest inflation.

It points to some Latin American countries with inflation higher than the 6.5% recorded by El Salvador, Brazil, with 12.1%; Paraguay, 11.8%; Chile, 10.2%; Nicaragua, 9.9%; Dominican Republic, 9.6%, and Uruguay, with 9.4%.

He saidd that after having reached 6.7% last february, inflation dropped to 6.5% in march, which ratifies that the measures taken to face inflation are working.

He informed that the economic growth forecast for this year remains at 3.2%.

He also stated that large companies will invest more than US$1.2 billion in 2022, in addition to the Central Government's plan to invest US$1.5 billion in infrastructure projects.