The Central Reserve Bank (BCR) raised El Salvador’s growth projection for 2024, estimating that it might reach $%.
During the first quarter results report, the president of the BCR, Douglas Rodríguez, highlighted that the national economy shows a favorable performance in most of its indicators and that, based on this, by the end of 2024 growth is expected to be between 3.5% and 4%. These figures represent an increase compared to the projection announced in May, where the BCR estimated growth between 3% and 3.5% for December of this year.
Throughout the year, several multilateral entities have improved their growth projections for the country, the latest being the World Bank (WB), which predicted 3.2% in mid-June. This estimate adds to those previously made by the International Monetary Fund (IMF) and the Economic Commission for Latin America and the Caribbean (ECLAC). All of them support growth above 3% for the end of the year.
It is also worth noting that between January and March 2024, the country’s growth was 2.6%, a figure significantly higher than that of the same period of the previous year, which was 1.8%.
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