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

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 Exports

El Salvador’s Exports Dropped by $617.02 Million in 2023, the Worst Decline Since 2020

According to the Salvadoran Reserve Bank (BCR), El Salvador’s exports in 2023 were $6,498.09 million, a drop of 8.67% or $617.2 million less than the $7,115.11 it exported in 2022. Except for a growth spike in February, the country’s exports consistently posted negative numbers throughout the rest of the year. … Read more

El Salvador Airport of the Pacific

El Salvador’s Airport of the Pacific: Prospects and Challenges of the New Airport in El Salvador

The Airport of the Pacific is El Salvador’s new airport set to be built in Conchagua, la Union, in the eastern part of El Salvador, near the Gulf of Fonseca. The new airport in El Salvador started as a campaign promise of President Nayib Bukele to the people of Eastern … Read more

Legal Currency of El Salvador

Legal Currency of El Salvador. What Currency Does El Salvador Use?

The legal currencies of El Salvador are the United States dollar, the Bitcoin cryptocurrency, and the Salvadoran Peso or Colon. The currency El Salvador uses the most is the US dollar. It is followed by the Bitcoin cryptocurrency. Since September 2021, El Salvador has had three legal currencies (Colon, US … Read more

Google Building

Salvadoran Congress approves agreement between Google and El Salvador

With 65 votes, the Salvadoran Congress approved an agreement between Google and El Salvador to establish operations in the country, which will help digital transformation and modernize government services. The approving vote transpired at the September 6 legislative plenary session. The implementation of the strategic alliance with Google will allow … Read more

Ferry Between El Salvador and Costa Rica

The Cargo Ferry Between El Salvador and Costa Rica to Begin Operations on August 10

The cargo ferry between El Salvador and Costa Rica will start operating on August 10, 2023. The ferry will have two departures, Monday and Thursday, from La Union Port in El Salvador to Caldera Port in Costa Rica. Blue Wave Corporation indicated that a third weekly trip could be added … Read more