El Salvador expects 'difficult year' for economy

El Salvador expects 'difficult year' for economy

Corporate & Sovereign Strategy Economy & Policy Capital Markets El Salvador

El Salvador's Finance Minister Alejandro Zelaya said Tuesday that a possible recession in the United States and Europe could lead to a decline in remittances from abroad and slow down the local economy. "From my perspective, I think [2023] is going to be a difficult year, but not the most difficult," Zelaya said in an interview with local television program Frente a Frente on Telecorporacion Salvadoreña (TCS). "We are still monitoring oil price indicators among other things to see how the first

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