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Latin America to grow 1.8% this year, one-tenth more than expected, forecast International Monetary Fund (IMF).
The agency did not elaborate on projected growth for each country, but said it had revised upward the growth outlook for two major economies: Mexico and Brazil.
Forecasts indicate that Mexico in 2023 it will rise by 1.7%, five tenths more than forecast in October, and in Brazil it will grow by 1.2%, two tenths more than the previous estimate.
The IMF says the improvement is due to unexpected resilience in domestic demand, stronger-than-expected growth in its major trading partners and, in the case of Brazil, higher-than-expected fiscal support.
In addition, the fund checked the number height region in 2022 and increased it to 3.9%, four tenths more than estimated last October and higher than the global average of 3.4%.
Despite an improvement in 2023, data show Latin America and the Caribbean growth this year will be less than the global average of 2.9%.
In addition, the report indicates that the IMF has lowered expectations height by 2024 by three tenths, i.e. up to 2.1%.
Next year, Latin America will also have a lower growth rate than the global estimate of 3.1%.
As indicated, the 2024 data represents a three-tenths reduction from what was forecast in October, a decline reflecting financial conditions tightening, lowering prices for exported raw materials and upward revision of trading partners.
(According to the EFE agency).
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.