Fiscal Balance in El Salvador
El Salvador - Fiscal BalanceThe economy will have expanded at a slower rate in Q3, with economic activity growing at a softer pace in August compared to July. The print was buoyed by robust expansions in the commercial, transport, accommodation and food, manufacturing, and mining and quarrying sectors, but weighed on by contracting activity in the construction sector. Meanwhile, growth in merchandise imports cooled in the quarter, further suggesting easing momentum. Remittance inflows also softened markedly in the quarter, but remained robust nonetheless. This bodes well for household spending, although stronger price pressures in the same period will have eaten into consumers’ pockets. In other news, protest groups are pressuring the IMF to block a USD 1.3 billion loan unless recent judicial reforms are undone. The protestors aim to reinstate previously fired Supreme Court judges and roll back subsequent court rulings.
El Salvador - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-3.3||-3.0||-2.3||-2.5||-2.9|
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