Fiscal Balance in El Salvador
El Salvador - Fiscal BalanceAnnual growth accelerated slightly in the first quarter, primarily due to a jump in both private consumption and fixed investment growth. Consumer spending was buttressed by strong remittance inflows in Q1, likely due to a tight labor market in the United States. Surging imports, however, dragged on the overall reading. The second quarter, meanwhile, got off to a good start, with economic activity expanding quickly in April due to strong construction activity, although remittances rose at a meager annual pace in April?May. In politics, the government is expected to present its five-year fiscal plan to Parliament in the coming weeks. According to Finance Minister Nelson Fuentes, it will not include new taxes, despite IMF calls in May for “prompt fiscal adjustment to reduce the high public debt”.
El Salvador - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-4.0||-3.8||-3.3||-3.0||-2.3|
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