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Credit for construction in El Salvador drops

Monday, September 2, 2013

Credit for new construction projects in El Salvador dropped 55 percent int he first half of the year, according to the country's construction chamber.

The figure shows a stagnant sector which has failed to see large investments due to lack of demand, said the president of the chamber, Ismael Nolasco.

So far this year, banks have financed projects for $14 million, compared to $32 million in the same period last year.

Source (in Spanish): El Salvador