LatinNews Daily - 02 October 2020

* El Salvador’s central bank (BCR) has released new figures which show that the country’s GDP contracted by 9.3% in the first half of 2020, compared with the same period in 2019, as a result of the impact of the coronavirus (Covid-19) pandemic. According to the BCR report, the most affected sectors were: artistic activities, entertainment, and recreational activities, which contracted by 31.2%; accommodation & food services (-28.3%); professional, scientific, and technical activities (-20.3%); manufacturing (-18.3%); construction and construction services (-17.5%); trade (-15.7%); transport and storage (-14.9%); and mining and quarries (-13.8%). The sectors to have registered positive growth were: financial activities and insurance (up 6.1%); supply of water; sewage and sanitation (3.1%); and supply of electricity, gas, and air conditioning (2.1%), among others. According to the BCR, the main impact of the pandemic was experienced in the second quarter, in which GDP contracted by 19.2% year-on-year, after the first quarter registered 0.8% growth. The BCR is forecasting that El Salvador’s GDP will contract by a total of between 6.5% and 8.5% this year.

End of preview - This article contains approximately 188 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial