Displaying items by tag: economic growth

The Investment and Export Promotion Agency of El Salvador (Invest in El Salvador) has shared through its social networks that in the last year, the country has received US$486.8 million in Foreign Direct Investment (FDI).

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 Government of El Salvador has made progress in several areas, through different measures implemented. This has allowed great transformations in the territory.

According to a Central American economic report by BANCOLOMBIA, it reflects that, during the third quarter of 2023, El Salvador's economy grew 3.6% annually, driven by the deceleration of inflation, household consumption, public and private investment, exports, and the dynamism of the construction and public services sectors.

During a television interview, the head of the Comisión Ejecutiva Portuaria Autónoma (CEPA) Federico Anliker, spoke about the millionaire investment to be made in the country's main maritime terminal, as part of the Expansion and Modernization project contemplated in the Cuscatlán Plan.

The Ministry of Labor of El Salvador is developing the Single Mothers Program, which consists of placing women who have to be mothers and fathers at the same time in jobs.

The International Monetary Fund (IMF) in its latest economic projections report 2024 places Latin America and the Caribbean with a growth of 1.9% in 2024, and an increase of up to 2.5% in 2025, which implies a reduction for 2024 of 0.6 percentage points with respect to the report's projection in 2023.

The minister of Labor Rolando Castro has visited the entire country promoting the Gira por el Empleo with businessmen and subsequently obtaining the hiring of new human talent that will contribute to the economic growth of El Salvador.

Authorities in El Salvador have implemented more measures to boost economic growth. The Minister of Economy, María Luisa Hayem, highlighted that this administration has facilitated the conditions for more investors to settle in the country, eliminating bureaucracy and reducing red tape.

Officially recorded remittance flows to low- and middle-income countries are expected to grow by 1.4% to US$656 million in 2023, while economic activity in remittance-sending countries is expected to slow, limiting employment and wage increases for migrants, according to the latest Migration and Development Review published by the World Bank.