El Faro reports that on Monday President Funes released a statement concerning the damages caused by the E-12 storm. Funes stated that the initial estimate of $650 million worth of damages is too low. He now believes that the total cost in damages cannot be counted until all refugees return home. However, he believes the cost to be closer to $840 million. He breaks this down to :
- $300 million worth of damage in the productive sector
- $260.58 million worth of damage in the infrastructure
- $207.8 million worth of damages to homes, schools and health centers
- $70 million worth of damages to the environment
Before the storm, El Salvador's GDP was expected to grow by 2.1% and have record sales in grains, but now it is only expected to grow by 1.4% -if that.
President Funes, along with other Central American officials, is waiting to hear from the advisory board established by last Tuesday's meeting with the Central American Integration System, and has not yet released a statement regarding plans of reconstruction.
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