El Salvador - GFDRR

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100 | El Salvador: Damage, Loss, and Needs Assesment 2) 3) 4) 5) Training of those affected, who are employed in recovery programs, in trades related to construction, improvement of employment possibilities and their inclusion in the job market and in reconstruction programs. Training in risk management associated with early recovery programs makes it possible to improve their coverage and scope. The recovery of damaged local assets at lower costs and under lower terms than those that would be obtained by contracted private companies from outside the locality. The purchase of local materials for the execution of works and the injection of monetary resources through the payment of workdays generates the circulation of currency and thus positive effects for local economies.
| 101 IV. ECONOMIC IMPACT A. IMPACT OF TROPICAL STORM IDA AND THE TROPICAL DEPRESSION This chapter describes the analysis conducted on the impact that the damages and losses caused by the disaster will have on large macroeconomic aggregates and on the employment and personal income of those affected. Overall Impact of Damages and Losses The overall impact of damages and losses was estimated on the basis of the sectoral assessment presented in the previous chapter. An analysis was conducted of the economy’s overall performance before and after the path of Hurricane Ida. The total effects of the hurricane, although significant in social terms and considerable at departmental level, did not reach levels significant enough to substantially alter compliance with the macroeconomic targets stated by El Salvador’s economic authorities. The following is a brief overview of economic activity in the 2001–2008 period and in 2009, prior to the disaster; it then contrasts the expected post-disaster economic situation for 2009 and 2010. This background information is used to address the economic forecast following the disaster (the gap between performance with and without the disaster). a) Pre-disaster Situation: Recent Macroeconomic Performance, 2001–2008 Principal trends. In the past eight years, the Salvadoran economy experienced a moderate, steady growth, equivalent to an average of 3%, with an annual inflation rate of 4% (see Table 42). Economic activity showed rising growth rates from 2005 to 2007, mainly driven by the flow of remittances that the country received, equivalent to 17.6% of the GDP. These turned into an important source of financing for consumption and investment in an environment of abundant liquidity and low interest rates. In addition, the contribution of the external sector, especially since 2003, was increasingly negative because imports grew steadily while exports have remained relatively constant.
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El Salvador Damage, Loss, and Needs
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| iii ACKNOWLEDGEMENTS We wish to e
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Acknowledgement | v The external su
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| 1 PRESENTATION At the request of
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| 3 SUMMARY AND CONCLUSIONS Through
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| 5 I. DESCRIPTION OF THE EVENT A.
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AUSTRALIA BELGIUM BRAZIL CANADA DEN
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El Salvador - GFDRR

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