1945

The Salvadoran economy grew by 1.5% in 2004, while per capita GDP fell for the fifth consecutive year. Rising inflows of foreign exchange in the form of family remittances (which amounted to 16.1% of GDP) and increased non-maquila exports were not enough to make up for the decline in maquila output and the sharp drop in public investment (40.4%) caused, in large part, by the delay in getting the national budget through Congress. With such a steep contraction of public investment and waning private investment in the construction sector, gross fixed capital formation was down by 3.8%.

Related Subject(s): Economic and Social Development
Countries: El Salvador
/content/books/9789211555684s004-c012
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