El Salvador: Economic Situation - June 2015

Export growth coupled with domestic consumption strengthened by credit and remittances explain part of the increase of 2.4% in GDP recorded in the second quarter.

From a statement issued by the Central Bank:

The Central Bank announced that the Quarterly Gross Domestic Product for the second quarter of fiscal year 2015 grew by 2.4% compared with the same quarter last year.

Dr. Oscar Cabrera, in a press conference, said the figure is 0.5% higher than the average for the past 10 years, demonstrating good economic performance and an increase in confidence on the part of various economic sectors.

Dr. Cabrera also presented the growth prospects of the Salvadoran economy at the end of 2015, which improved in this revision to 2.4%; up from 2.3% in the review of the last quarter.