IMF confirms 3% economic growth for El Salvador in 2024

The country’s economy would be growing more than the average for Latin America and the Caribbean, which the IMF has set at 2.0 % for 2024.

The International Monetary Fund (IMF) reconfirmed an economic growth of 3 % for the national economy for 2024. These figures are in line with the forecast of between 3 % and 3.5 % of the Central Reserve Bank (BCR) for this year.

The Salvadoran economy continues to have positive growth figures compared to the region, since, according to the IMF, Latin America and the Caribbean will grow by 2.0 % this year.

“The Latin American and Caribbean region has shown remarkable resilience in the face of recent global challenges and has recovered from the pandemic more strongly than expected. Growth is now moderating, from 2.3 % in 2023 to 2.0 % in 2024, as most economies are at potential,” the IMF published.

It is worth noting that, upon assuming his second presidential term, President Nayib Bukele, stated that this five-year term will prioritise the country’s economic growth, after making El Salvador the safest country in the Western hemisphere, thanks to his wise security strategies.

Source: Diario El Salvador