El Salvador Economic Outlook
November 7, 2017The economy performed strongly in Q3, according to the latest indicators: Annual growth in economic activity was strong in both July and August; remittance inflows were 10.4% higher in September compared to last year; and exports grew at a healthy rate throughout the quarter. In early October, Fitch Ratings upgraded its long-term foreign currency rating for El Salvador to B- following the approval of a pension reform bill by Congress on 28 September. Fitch’s outlook for the country remained stable. On 31 October, the Ministry of Agriculture and Livestock said that recent good weather bodes well for a strong 2017–18 coffee harvest season.
El Salvador Economic GrowthGrowth next year should be supported by robust exports and remittance inflows. While concerns over debt sustainability continue to cloud the outlook, the approval of the pension reform bill in September indicates a cooperative congress on fiscal policy matters going forward. Our panelists expect GDP to expand 2.1% in 2018, which is unchanged from last month’s forecast. For 2019, they expect GDP to grow 2.0%.
El Salvador Economy Data
5 years of El Salvador economic forecasts for more than 30 economic indicators.
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