The Central Reserve Bank forecasts private investment of more than $2.2 billion in 2022

Public and private investment will underpin the economic growth of 3.2% in El Salvador that is expected for 2022, according to the president of the Central Reserve Bank (BCR), Douglas Rodríguez.

The private company could invest more than $2.2 billion in different projects this year, many of them focused on commercial and housing infrastructure.

Rodrguez listed some of these bets as Apartamentos Plaza Mundo for $29.8 million; the Valle El ngel Urban Complex for $310 million; Residencial Marsella for $150 million; and the Nuevo Cuscatlán Residential Complex for $60 million, which is being developed by the Urbánica real estate company.

Prior to the data shared by the BCR, the executive director of the Salvadoran Chamber of Construction (Casalco), José Velásquez, assured that a public and private investment of around $1,200 million is expected in the sector they represent.

Likewise, in the financial area, Banco Cuscatlán plans to allocate nearly $48 million in digital innovation and investments in the country.

“$1,510 million will be invested in 10 economic impulses of public investment in infrastructure, both in communication routes and cultural, educational, and sports centers that will give a higher level of activity in this 2022” — he stated.

Regarding remittances, Rodríguez highlighted that with more than $7.5 billion registered in this area in 2021, the monthly average received per family is $312.

The bank’s leader also explained that global crises such as supply problems, inflation, and the effects derived from the crisis in Ukraine have been included in the 2022 projections.

«Inflation, for example, is considered at 3.2%. It is something that we cannot control. We depend on external factors. As of February 2022, it closed with an inflation rate of 6.7%, and it would end up with 2.3% inflation this year” — he said.