Business and Economy

World Bank El Salvador Economic Outlook

The World Bank Predicts El Salvador’s Economy Will Grow by 2.5% in 2024

On April 10, the World Bank improved El Salvador’s economic growth outlook from 2.3% to 2.5%. However, the forecast is lower than the official Salvadoran Central Reserve Bank (BCR) forecast, which estimates a rate of between 3% and 3.5%. The World Bank’s 2024 projection for the country is the lowest … Read more

Inflation rate in El Salvador

The Inflation Rate in El Salvador for 2024 Is 0.77, the Lowest in Three Years

As of March 2024, the inflation rate in El Salvador, reported by the Central Reserve Bank (BCR), is 0.77%, representing the lowest rate recorded since January 2021. Today’s inflation rate in El Salvador is -0.03 or 3.75% lower than the 0.80% it closed the previous month. The Salvadoran inflation rate … Read more

El Salvador Bitcoins

El Salvador Bitcoins: A Nation’s Journey into Digital Currency

El Salvador continues investing in Bitcoin. As of April 1, 2024, El Salvador possesses 5,706.75 Bitcoins, valued at $397,886,081 US dollars, equivalent to $69,722.00 per Bitcoin. President Nayib Bukele’s unprecedented decision to make Bitcoin a legal tender in El Salvador in 2021, has sparked intense discussions globally, reshaping perceptions of … Read more

El Salvador’s Central Reserve Bank BCR Economic Outlook

The Salvadoran Central Reserve Bank (BCR) Projects an Economic Growth of 3% to 3.5% in 2024

The Salvadoran Central Reserve Bank (BCR) projects that El Salvador’s economy will grow between 3.0% and 3.5% in 2024, driven by an increase in the development of public and private investment projects. BCR’s President Douglas Rodríguez affirmed that one of the primary drivers of this economic growth is the improved … Read more

El Salvador’s basic food basket cost

El Salvador’s Basic Food Basket Cost in 2024 is $256.82 in Urban Areas

El Salvador’s basic food basket cost per family is $256.82 for the urban sector and $185.17 for rural areas. The Salvadoran essential food basket cost in urban areas is about 27.9% more expensive than in the rural sector. One of the principal worries Salvadorans have entering 2024 is the high … Read more

Remittances to El Salvador

Remittances to El Salvador Are up $16.14 Million or 1.34%, Year to Date

Thus far, in 2024, family remittances to El Salvador are up $16.14 million or 1.34% compared to 2023. According to the Central Reserve Bank of El Salvador (BCR), remittances to El Salvador as of February 2024 totaled $1218.0 million. Last year, remittances to El Salvador reached a new high; in … Read more

San Salvador El Salvador

Moody’s: El Salvador’s Improvements in Security Are Likely to Improve the Country’s Economy

Moody’s Investors Service, the risk agency, stated that the decline in insecurity levels will bolster the attraction of investments and enhance the outlook for economic growth in El Salvador. “Sustained improvements in security are likely to remove a major deterrent to diversifying the economy,” stated Moody’s announcement, which was shared … Read more