Analysis by Region - Emerging Markets - El Salvador

Analysis by Region - Emerging Markets - El Salvador

El Salvador entered the year on a much stronger footing than we expected after the economy expanded by 2.6% in 2022, and rebounded by 11% from the pandemic in 2021. So, we've revised our GDP growth forecast to 1.6% for 2023 and to 0.7% in 2024. This reflects a more gradual slowdown, as we now expect a belated impact from global tightening in financial conditions on domestic demand.