LATIN AMERICA – CARIBBEAN GDP EXPECTED TO DECLINE
Aruba, August 6, 2019 – Latin America – Caribbean GDP expected to decline: 0.5 percent in 2019 vs 0.9 percent 2018.
The Economic Commission for Latin America and the Caribbean (ECLAC) expects economic growth in the region to continue to decline, due to an international context of greater uncertainty and complexity, and weak performance by investment, exports, and consumption.
This is the outlooks of the annual Economic Survey of Latin America and the Caribbean 2019, announced this week by Alicia Bárcena, Executive Secretary of the United Nations regional organization, at a press conference in Santiago, Chile.
According to the report, the region will grow this year by just 0.5 percent a lower figure than the 0.9 percent registered in 2018. This performance is attributed to the effects of a slowdown in synch with the global economy, which has meant an unfavorable international scenario for the region. Likewise, the low growth internally is due to the lack of momentum exhibited by investments, exports and a fall in public spending and private consumption.
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