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INSIDECOSTARICA.COM
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CENTRAL AMERICA
NEWS BRIEFS
|
Tuesday 28
December 2010 |
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El
Salvador
Confident
of
Economic
Recovery
SAN
SALVADOR
-
Treasury
Minister
of El
Salvador
Carlos
Caceres
is said
to be
confident
of a 2.5
percent
economic
growth
in the
country
next
year.
The
Gross
Domestic
Product
will not
reach
the one
percent
forecast
for this
year,
and
fluctuate
from 0.7
to 0.8
percent
after
having
fallen
into
negative
figures
(-3.3
percent)
in 2009.
In
remarks
to a TV
program,
he cited
factors
for
recovery
in 2011,
including
a more
stable
situation
in the
United
States,
on the
economy
of which
El
Salvador
is very
dependent.
He also
referred
to an
increase
in
remittances
from
Salvadorians
living
abroad,
estimated
at about
18
percent
of the
GDP, and
a more
favourable
situation
in
agriculture,
with
high
coffee
sales,
as well
as high
sugar
prices
at
international
market.
Public
investment,
estimated
at USD
$1.20
billion,
is also
expected
to be
another
factor
for
growth
in 2012.
He said
that the
National
Development
Bank
will
start
operation
in the
second
quarter
of 2011,
making
up for a
fall in
credit
to
private
bank
productive
sector.
Caceres
urged
businesspeople
to
invest
in El
Salvador
and
leave
political
considerations
behind.
In his
opinion,
the
growth
target
for next
year
will be
easily
achieved
if these
expectations,
including
an
increase
in
public
investment
and a
rise in
private
investment
of about
four
percent,
are met.
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