section_path: Presidency/Economy/Economic Plan
section_name: Economic Plan
paragraph_text: Economic Plan
  
  During Bukele's second inauguration, he stated that his second term would focus on improving the Salvadoran economy with "bitter medicine" (" medicina amarga "). In July 2024, Bukele threatened to mass-arrest vendors, importers, and distributors who engaged in price gouging. Later that month, he announced the beginning of a six-phase Economic Plan (" Plan Económico "). Phase one, known as "Feeding" (" Alimentación "), involved the establishment of 30 food distribution centers and the removal of tariffs on certain agricultural imports for ten years. Phase two, known as "Technology" (" Tecnología ") involved the construction of data centers and technological parks in El Salvador. Bukele claimed that his Economic Plan would create 4,000 jobs. Phase three, known as "Logistics" (" Logística "), involved the investment of US$1.6 billion into modernizing the ports of Acajutla and La Unión and the Turkish company Yılport Holdings operating the ports for 50 years.
  
  On 15 September 2024, Bukele stated that his 2025 government budget would not include "a single cent of debt for current spending" (" solo centavo de deuda para gasto corriente ") and that his government would not take out foreign loans to pay for the budget. On 16 October, El Salvador and J.P. Morgan & Co. agreed to restructure US$1.03 billion of the country's debt as a part of a debt-for-nature swap, which Bukele described as "reaffirm this government's commitment to economic growth". In the agreement, El Salvador would allocate US$352 million in savings towards conserving the environment around the Lempa River. On three occasions in 2024, Bukele offered to buy back billions of dollars worth of government bonds due by 2034.
  
  In November 2024, the Central American Bank for Economic Integration announced that it would give the Salvadoran government $646 million to finance infrastructure projects. Bukele stated that the bank's support would help El Salvador's "economic takeoff" (" despegue económico "). Later that month, Bukele wrote on X that he supported mining gold, describing it as "wealth that could transform El Salvador". He further described the country's metal mining ban as "absurd". The Catholic Church, which supported the mining ban's implementation in 2017, called on Bukele to not repeal the ban citing environmental concerns. The Legislative Assembly repealed the ban on 23 December 2024 and Bukele approved the law that same day. In 2025, at least 2,500 street vendors were evicted from downtown San Salvador as part of Bukele's economic revitalization plan.
  
  During Bukele's second inauguration, he stated that his second term would focus on improving the Salvadoran economy with "bitter medicine" (" medicina amarga "). In July 2024, Bukele threatened to mass-arrest vendors, importers, and distributors who engaged in price gouging. Later that month, he announced the beginning of a six-phase Economic Plan (" Plan Económico "). Phase one, known as "Feeding" (" Alimentación "), involved the establishment of 30 food distribution centers and the removal of tariffs on certain agricultural imports for ten years. Phase two, known as "Technology" (" Tecnología ") involved the construction of data centers and technological parks in El Salvador. Bukele claimed that his Economic Plan would create 4,000 jobs. Phase three, known as "Logistics" (" Logística "), involved the investment of US$1.6 billion into modernizing the ports of Acajutla and La Unión and the Turkish company Yılport Holdings operating the ports for 50 years.
  
  On 15 September 2024, Bukele stated that his 2025 government budget would not include "a single cent of debt for current spending" (" solo centavo de deuda para gasto corriente ") and that his government would not take out foreign loans to pay for the budget. On 16 October, El Salvador and J.P. Morgan & Co. agreed to restructure US$1.03 billion of the country's debt as a part of a debt-for-nature swap, which Bukele described as "reaffirm this government's commitment to economic growth". In the agreement, El Salvador would allocate US$352 million in savings towards conserving the environment around the Lempa River. On three occasions in 2024, Bukele offered to buy back billions of dollars worth of government bonds due by 2034.
  
  In November 2024, the Central American Bank for Economic Integration announced that it would give the Salvadoran government $646 million to finance infrastructure projects. Bukele stated that the bank's support would help El Salvador's "economic takeoff" (" despegue económico "). Later that month, Bukele wrote on X that he supported mining gold, describing it as "wealth that could transform El Salvador". He further described the country's metal mining ban as "absurd". The Catholic Church, which supported the mining ban's implementation in 2017, called on Bukele to not repeal the ban citing environmental concerns. The Legislative Assembly repealed the ban on 23 December 2024 and Bukele approved the law that same day. In 2025, at least 2,500 street vendors were evicted from downtown San Salvador as part of Bukele's economic revitalization plan.