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El Salvador: Selected Economic and Financial Indicators |
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Prel. |
Proj. |
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2001 |
2002 |
2003 |
2004 |
2005 |
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Real economy (change in percent) |
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Real GDP |
1.7 |
2.2 |
1.8 |
1.5 |
2.5 |
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Consumer prices (end of period) |
1.4 |
2.8 |
2.5 |
5.5 |
2.5 |
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National savings (percent of GDP) |
15.6 |
13.3 |
11.7 |
11.4 |
12.7 |
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Gross domestic investment (percent of GDP) |
16.7 |
16.2 |
16.6 |
15.8 |
16.7 |
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Public finances (percent of GDP) |
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Consolidated public sector deficit |
4.3 |
4.6 |
3.8 |
2.9 |
3.1 |
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Consolidated primary deficit |
2.9 |
2.9 |
1.8 |
0.7 |
0.7 |
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Public sector debt (percent of GDP, end of
period) |
39.4 |
43.5 |
46.1 |
44.8 |
46.2 |
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Of which |
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Nonfinancial
public sector |
33.8 |
38.7 |
40.7 |
40.7 |
40.0 |
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Money and credit (end-year, percent change) |
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Net domestic assets |
2.4 |
-2.8 |
-0.5 |
4.1 |
2.6 |
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Of which |
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Nonfinancial
public sector |
2.4 |
-4.5 |
3.5 |
-0.6 |
-0.2 |
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Private
sector |
-1.6 |
6.2 |
6.4 |
4.8 |
5.1 |
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Liabilities to private sector |
2.6 |
-2.6 |
1.7 |
2.5 |
2.5 |
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Interest rates (average) |
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Deposit rate (six months) |
5.5 |
3.4 |
3.4 |
3.3 |
... |
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Lending rate (more than one year) |
10.8 |
8.7 |
8.0 |
7.7 |
... |
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External sector |
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Trade balance (percent of GDP) |
-14.0 |
-13.1 |
-15.2 |
-15.8 |
-16.0 |
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Current account balance (percent of GDP) |
-1.1 |
-2.9 |
-4.9 |
-4.4 |
-4.0 |
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Change in net international reserves |
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(millions of U.S. dollars, increase -) |
178 |
124 |
-316 |
170 |
-10 |
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Net international reserves |
1,710 |
1,589 |
1,906 |
1,736 |
1,746 |
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Gross international reserves (months of |
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non-maquila imports of goods and services) |
5.8 |
4.7 |
5.2 |
4.5 |
4.3 |
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Terms of trade |
-0.1 |
-0.6 |
0.1 |
-1.0 |
0.1 |
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Real effective exchange rate (end of period) 1/ |
1.2 |
-2.2 |
-5.1 |
0.8 |
... |
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Sources: Central reserve bank;
ministry of finance; and IMF staff estimates and projections. |
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1Under Article IV of the IMF's
Articles of Agreement, the IMF holds bilateral discussions with members,
usually every year. A staff team visits the country, collects economic and
financial information, and discusses with officials the country's economic
developments and policies. On return to headquarters, the staff prepares a
report, which forms the basis for discussion by the Executive Board. At the
conclusion of the discussion, the Managing Director, as Chairman of the
Board, summarizes the views of the Executive Directors, and this summary is
transmitted to the country's authorities. This PIN summarizes the views of
the Executive Board as expressed during the January 31, 2005 Executive Board
discussion based on the staff report. |
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