What is The Economy Condition of El Salvador?

El Salvador achieved stability and economic growth in 1990’s following its embrace of a “neoliberal” economic model that involved cutting government spending, privatizing state-owned enterprises, and in 2001 adopting the dollar as its national currency.

The smallest country in Central America geographically, El Salvador has the fourth largest economy in the region. With the global recession, real GDP contracted in 2009 and economic growth has since remained low, averaging less than 2% from 2010 to 2014, but recovered somewhat in 2015-16 with an average annual growth rate of 2.4%.

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