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Construction industry of El Salvador crippled by cuts in housing credits

Friday, July 29, 2011


\ The construction industry is recovering throughout Central America, but not in El Salvador.\ \ From January through May, commercial banks lent only $7.4 million for housing projects, a 73 percent decrease on the same period of last year.\ \ The industry is still waiting to return to the pre-crisis years. In 2008, for example, the banks lent an average of $5.7 million in housing credits a month.\ \ \ \ Original source (in Spanish): Elsalvador.com\ \ \ \