Economic News
President Bukele Proposes 12% Minimum Wage Hike in El Salvador Amid Rising Living Costs
SAN SALVADOR, El Salvador — President Nayib Bukele proposed a 12% increase in El Salvador’s minimum wage Friday, a long-awaited measure amid mounting pressure from civil society groups and rising household costs. “Today, we have sent the following proposal to … Read more
Trump Announces New Tariffs, Including 10% on Salvadoran Imports
WASHINGTON — President Donald Trump announced a new round of tariffs on imports from various countries Wednesday, including a 10% tariff on goods from El Salvador. The announcement, made during a White House ceremony Trump called “Liberation Day,” is expected … Read more
Transfer365 Saves Salvadorans Over $153 Million in Interbank Fees: Central Bank (BCR) Reports
SAN SALVADOR, El Salvador — Salvadorans have saved more than $153 million in interbank fees thanks to Transfer365, the country’s digital payments system, according to El Salvador’s Central Reserve Bank (BCR). Transfer365 is El Salvador’s national real-time payment system, designed … Read more
Spain Joins El Salvador’s Labor Migration Program, Opening New Legal Work Opportunities
SAN SALVADOR, El Salvador — Spain has officially joined El Salvador’s Labor Migration Program, offering a new pathway for Salvadorans to work abroad under legal and secure conditions. Rolando Castro, the Ministry of Labor, announced that a new group of … Read more
Falling Behind: El Salvador Has Second-Lowest Minimum Wage in Central America
SAN SALVADOR, El Salvador — El Salvador has the second-lowest minimum wage in Central America and remains the only country in the region that has not complied with its wage review regulations, according to a new study released Friday, March … Read more
Digital Commerce Grows in El Salvador, but Fear and Cybersecurity Challenges Remain
SAN SALVADOR, El Salvador — According to CAMARASAL, the Technology Committee of the Chamber of Commerce and Industry of El Salvador, 22 percent of commerce in El Salvador is conducted digitally, signaling a growing shift toward e-commerce in the country. … Read more
Labor Migration Program Sends Thousands of Salvadorans to Work in U.S. and Canada
Over 11,000 Salvadorans have secured temporary employment opportunities in the United States and Canada through the Labor Migration Program, an initiative spearheaded by El Salvador’s Ministry of Labor and Social Welfare (MTPS). The employment initiative continues to expand, with new … Read more