Economic News
Bukele Forecasts 5% Economic Growth for El Salvador in 2025, Doubling IMF’s Projection
SAN SALVADOR, El Salvador — Salvadoran President Nayib Bukele projected to double the country’s economic growth rate for 2025, forecasting a 5% expansion despite the International Monetary Fund’s more modest outlook. On April 23, the IMF downgraded its 2025 growth … Read more
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