LatinNews Daily - 18 November 2021

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

* The president of El Salvador’s central bank (BCR), Douglas Rodríguez, has raised the BCR’s growth forecast for El Salvador’s GDP to 10.3 %, up from the 9% previously forecast in August. El Salvador’s GDP contracted 7.9% in 2020 due to the coronavirus (Covid-19) pandemic. Rodríguez cited “strategic actions” taken by the government led by President Nayib Bukele as reasons for the improvement. El Salvador’s GDP grew 24.5% year-on-year in the second quarter of 2021, largely due to the low base of comparison due to measures taken to stop the spread of the coronavirus.

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