Eclac Predicts Economic Slowdown In Latin America And Caribbean In 2015
New York, New York – Launching the Economic Survey of Latin America and the Caribbean 2015 in Santiago, Chile, the UN Economic Commission for the region, known by the acronym ECLAC, forecasts that South America will contract -0.4 per cent, Central America and Mexico will grow 2.8 per cent, and the Caribbean will expand just 1.7 per cent.
On a national level, the projections show, Panama will lead the regional expansion with a 6.0 per cent increase, followed by Antigua and Barbuda (5.4 per cent) and the Dominican Republic and Nicaragua (both with 4.8 per cent).
Mexico’s gross domestic product (GDP) will grow 2.4 per cent while Argentina’s will rise 0.7 per cent, the report showed, but Brazil will experience a contraction of -1.5 per cent while Venezuela will face an even greater decline of -5.5 per cent.
Upon presenting its most recent annual report, the regional organization called for vitalizing the investment process to resume growth and improve productivity in the region’s economies.
“Revitalizing growth in the short and long term requires boosting public and private investment at a complex time,†said Alicia Bárcena, ECLAC’s Executive Secretary Read more
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