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Finance minister predicts a difficult year for El Salvador’s economy


Finance minister predicts a difficult year for El Salvador’s economy

San Salvador, Jan 10 (Prensa Latina) 2023 will be a difficult year for El Salvador's economy, Finance Minister Alejandro Zelaya said on Tuesday.

The complications will be in different aspects, among them instability in fuel prices, which began this Tuesday with rises in 0.20 cent dollar in some of its categories.

The finance minister, who appeared on Channel 4 television interview program Frente a Frente on Tuesday, said that the country had record tax collection in 2022, higher by 737 million dollars compared to 2021.

Zelaya also addressed the new pension law and said it covers all pensioners and those who are going to retire, and universality applies to all.

With this (pension) reform, the purchasing power of families will improve. Those who were receiving 500 dollars will now receive 150 dollars more, despite protests from some sectors that allege that there will be no increases for them.

Zelaya also addressed the negative impact of the global economy on the local economy through warnings about a recession in the United States in coming months, which could result in lower financial liquidity that would affect the flow of remittances.


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