El Salvador : 2019 Article IV Consultation
Press Release; Staff Report; and Statement by the Executive Director for El Salvador
Series:Country Report No. 19/143
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Publication year: 2019
Cdn: $25.00; US: $18.00
Structural reforms, strengthened policy frameworks and the ongoing smooth political transition have laid the foundations for sustained growth. Surging remittances pushed real GDP growth above potential in 2018, adding to tax revenues and raising the primary fiscal surplus to about 1 percent of GDP. Nevertheless, public debt at about 70 percent of GDP is high, expensive to roll over, and leaves little room for funding new initiatives unless structural measures are implemented. It remains the main vulnerability of the economy.