Business and Economy
El Salvador’s Basic Food Basket Cost in 2024 is $254.79 in Urban Areas
El Salvador’s basic food basket cost per family is $254.79 for the urban sector and $183.02 for rural areas. The Salvadoran essential food basket cost in urban areas is about 28.2% more expensive than in the rural sector. One of the principal worries Salvadorans have in 2024 is the high … Read more
Year to Date, Remittances to El Salvador Are Down $18.43 Million or 0.96%
Thus far, in 2024, remittances to El Salvador are down 0.96% compared to 2023. According to the Central Reserve Bank of El Salvador (BCR), remittances to El Salvador as of March 2024 totaled $1895.7 million. The figures from the Salvadoran Reserve Bank indicate that this year’s remittances have decreased by … Read more
The International Monetary Fund “IMF” Predicts El Salvador’s Economy Will Grow by 3% in 2024
The International Monetary Fund (IMF) improved its growth projections for El Salvador and expects the country to grow 3% at the end of 2024; this projection is higher than the 1.9% predicted in October 2023. The IMF is the second economic organization in 2024 that has increased the country’s projections. … Read more
El Salvador Credit Ratings: S&P maintains El Salvador’s rating at B- with a Stable Outlook
On Thursday, April 15th, the S&P Global Ratings agency declared that it would uphold El Salvador’s sovereign risk rating at B-, maintaining a stable outlook. S&P Global is the first credit rating agency to respond following the Salvadoran government’s announcement of its reentry into the international market after a four-year … Read more
The Economic Commission for Latin America “ECLAC” Predicts El Salvador’s Economy Will Grow by 2% in 2024
The Economic Commission for Latin America (ECLAC) predicts an economic growth of 2% for El Salvador in 2024. The projected increase was made public on ECLAC’s December 2023 Preliminary Overview of the Economies of Latin America and the Caribbean 2023. The United Nations agency’s projection falls below the 3% to … Read more
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
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
