“President Nayib Bukele has sanctioned the Special Law to Promote Competitiveness and Facilitate Access to Products in the Expanded Basic Basket“, he noted on his X account.
Bukele considered on Tuesday that the measure will generate “more international competition and more local production at the same time.”
In addition to food, the law It also suspends tariffs on the import of agricultural products for ten years. such as fertilizers, compost, animal feed, among others.
Measure It has been criticized by producers, economists and politicians opposition who believe that it will encourage food imports to the detriment of national production.
The cost of the basic food basket per family, according to the Central Reserve Bank, is US$256.56 per monthcompared to a stagnant minimum wage of US$243 in the agricultural sector, US$359 in the manufacturing sector and US$365 in commerce and industry.
President @nayibbukele has passed the Special Law to Promote Competitiveness and Facilitate Access to Expanded Basic Basket Products.
To encourage local and foreign competition, this law eliminates tariffs on 116 food products and inputs for 10 years… pic.twitter.com/4jmnyq3NJ1
— Presidential House 🇸🇻 (@PresidenciaSV) July 23, 2024
The Savior Imports 90% of legumes, vegetables and fruitsaccording to official data. Also a good part of cereals, oils, milk, meat, canned products and basic grains such as beans, among others.
At the beginning of July, the government began inspections in supermarket chains after Bukele ordered to combat business “mafias” due to rising food prices.
He The president also opened mobile agricultural markets to promote direct sales and avoid intermediaries to try to contain the increases.
More international competition and more local production at the same time 🤓 https://t.co/Dpo4o8g9DB
— Nayib Bukele (@nayibbukele) July 23, 2024
#Bukele #ratifies #law #suspends #tariffs #products #Salvador
