LatinNews Daily - 01 July 2022

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

* El Salvador’s central bank (BCR) has cut its growth forecast to 2.6% for 2022, down from 3.2% in its previous (March 2022) estimate. BCR president Douglas Rodríguez told reporters that this stemmed from the impact of Russia’s war in Ukraine and the global economic slowdown, as well as rising inflation globally. In the first quarter of 2022, El Salvador’s GDP grew 2.4% year-on-year. The main sectors driving growth were restaurants & hotels (up 11.6% year-on-year), transport (10.6%), administrative services (9.9%), and health (6.2%).

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