El Salvador: Staff Report for the 2004 Article IV Consultation
August 9, 2005
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This 2004 Article IV Consultation highlights that economic growth in El Salvador in recent years has been dampened by adverse external conditions, major earthquakes, and election-related uncertainties. Real GDP growth is estimated at about 1½ percent in 2004 while inflation picked up to more than 5 percent, owing to higher oil prices. The public sector deficit is expected to decline to 3 percent of GDP in 2004. Executive Directors have praised El Salvador’s long-standing record of structural reform and commitment to sound macroeconomic policies, and considered that official dollarization has served El Salvador well.
Subject: Balance of payments, Banking, Central banks, Current account balance, Economic sectors, External debt, International reserves, Public debt, Public sector
Keywords: authority, Central America, CR, Current account balance, deficit, dollarization regime, East Asia, Global, International reserves, ISCR, Net international reserves, preliminary data, Public sector, public sector deficit, staff appraisal
Pages:
62
Volume:
2005
DOI:
Issue:
271
Series:
Country Report No. 2005/271
Stock No:
1SLVEA2005003
ISBN:
9781451834758
ISSN:
1934-7685
