A press release from the Salvadoran Foundation for Economic and Social Development (FUSADES in Spanish) states:
Historically, public policies have not really taken into account recurring negative impacts.
El Salvador is a country that experiences with natural disasters, such as earthquakes, storms, and floods, among others.
It is not natural disasters themselves, but in large part, the actions or omissions of the individual and collective that leave us vulnerable and create economic and social damage. This is what turns natural disasters into threats.
In reviewing our actions, we see that the composition of public spending does not match the needs of the country's sustainable development. It is estimated that from 2008 to 2011 $1.500 million of expenditure has been financed by public debt, a figure inconsistent with the reality of frequent negative impacts.
Maintaining this structure of public expenditure, high current expenditures (subsidies and wages) and low investment, is maximizing the damage and has a high social cost. Even before Tropical Depression 12E public finances showed signs of a serious need for adjustment measures.
El Salvador does have the material conditions to make the necessary changes and has potential for growth and progress, but national unity is needed. At this moment in time we are presented with the opportunity to unify, and seek creative solutions that put the country on the path to growth and social progress.
Source: Salvadoran Foundation for Economic and Social Development
More on this topic
August 2011
FUSADES has released a Situation Report for the period April to June 2011.
The report presents a comprehensive quarterly analysis of the behavior of El Salvador’s major economic indicators of, relating to the following sectors and issues: prices, real estate, fiscal, financial, external, agriculture, environment, social and global perspectives.
November 2010
The FUSADES report notes that the Salvadoran economy has declined and stagnated to 2007 levels.
Fusades presented the results of the Economic Situation Report July-September 2010.
The slight recovery observed during the second quarter of 2010 shows signs of exhaustion in the third quarter, referring to short-term indicators such as IVAE and employees contributing to the ISSS.
August 2010
According to research from El Salvador's Foundation for Economic and Social Development (Fusades), the country's economy is out of recession and displays a week recovery.
Fusades' status report for the second quarter of 2010 states that in the last six months 27 out of a possible 28 Salvadoran economic activity indicators showed a positive trend.
August 2011
The Salvadoran Foundation for Economic and Social Development, Fusades, has presented a report entitled "Legal and Institutional Situation" for the first half of 2011.
The aim of the report is to provide constructive feedback to enrich national discussion, leading to better public policies conducive to strengthening democratic institutions and promoting the business climate.
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