1945

In 1997, the economy of El Salvador performed better than in the previous year. Gross domestic product (GDP) rose by 4.1%, a change which was mostly due to a significant increase in exports. Although the trade deficit was still high, the current account balance moved into the black, leading to a considerable accumulation of international reserves. The overall economic picture was remarkably stable. December-to- December inflation fell to a record low of 1.9%, while the annual average was 4.5%; the nominal exchange rate remained unchanged and the fiscal deficit decreased. However, there was no improvement in the employment situation and real wages fell.

Related Subject(s): Economic and Social Development
Countries: El Salvador
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