ECLAC forecasts moderate economic growth in LA and the Caribbean
The agency published its Economic Survey 2018, which provides for a moderate expansion and increased investment in both regions
The Economic Commission of the United Nations for Latin America, ECLAC, published its Economic Survey 2018, according to which moderate economic growth will be maintained in the Latin American region, as well as investments. The trend is also observed in the Caribbean.
Experts estimate that both areas will experience an average growth of 1.5% boosted by an increase in domestic demand, in addition to a slight increase in investment.
The report reflects that the growth in each country is heterogeneous. However, although the expected percentages are not reached, a positive trend is maintained. They expect South America to grow 1.2%, the Central region 3.4% and the Caribbean 1.7%. The Dominican Republic and Panama lead the ranking, followed by Paraguay, Bolivia, Antigua and Barbuda, as well as Chile and Honduras.
Concrete aspects such as tax collection, inflation and the fiscal area are also addressed in the study of ECLAC. In the tax case and the inflationary index, it indicates that they remain within the forecast. In fiscal matters, the “primary deficit, which would go from an average deficit of 0.8% of GDP in 2017 to one of 0.5% in GDP in 2018, is reduced”.
There are, however, adverse conditions that can not be ignored. In this regard, the Executive Secretary of the ECLAC, Alicia Bárcena, said: “Our region continues to grow, albeit at a slower rate than projected a few months ago, despite international turbulence. That is positive but it urges us to redouble our efforts to generate a reactivation, without falling into excessive fiscal adjustments. Here regional integration can play a fundamental role and we must aim towards that.”
M.Pino
Source: Cepal.org
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