LatinNews Daily - 18 August 2021

In brief: El Salvador’s central bank raises growth forecast

* El Salvador’s central bank (BCR) has raised its GDP growth forecast for 2021 to 9%, up from 6% in its previous prediction in June. A BCR press release cited as grounds for its decision: actions taken by the government in response to the coronavirus (Covid-19) pandemic such as the creation of a trust fund for economic recovery of Salvadorean firms (Firempresa); increased public investment through the development of public works; increased private investment; and progress in the country’s Covid-19 vaccination campaign (30.7% of the population has been fully vaccinated as of 16 August), among other things. El Salvador’s GDP grew 3% in the first quarter of 2021 year-on-year, having contracted 7.9% in 2020 as a result of the pandemic.

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