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Economic Survey of Latin America and the Caribbean 1993

image of Economic Survey of Latin America and the Caribbean 1993

Issued in two volumes - volume I gives insight into the economic trends, the international economy and the role of exchange rate policy in Latin America and the Caribbean. Volume II explores the economic developments by country. Complimentary statistical tables are included.

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El Salvador

In general terms, the economy of El Salvador performed well in 1993, taking into consideration the growth of 5% in the gross domestic product (GDP), the decrease in the inflation rate to 12% and the narrowing of the fiscal deficit to 3% of GDP. Productive activity developed favourably against the backdrop of the consolidation of economic adjustment policies and in a climate created by the signing of the peace agreements in 1992. These agreements neutralized the relative uncertainty generated at the end of 1993 by the opening of the 1994 presidential election campaign. The transition from the conflict to the peace process required a large effort on the part of society to find new ways of settling political differences, concluding social agreements and laying the groundwork for the reintegration of all ex-combatants into civilian life. This process, and the strengthening of democratic institutions, exerted a degree of pressure on public finances, even though the country received support from the international community for the implementation of its National Reconstruction Plan.

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