Economic Survey of Latin America and the Caribbean 1997-1998

image of Economic Survey of Latin America and the Caribbean 1997-1998

The Economic Survey of Latin America and the Caribbean, 1997-1998 is the fiftieth edition in this series. To mark this milestone, a special chapter has been included in this edition which traces the history of the publication and outlines the way in which the economic situation in the region has been viewed during each of the periods examined. Once again, the Survey has been published as a single volume consisting of three parts. Part 1 contains an overview of the economy in 1997 and the first half of 1998. Part 2 presents reports on the 20 countries of Latin American and on the situation in the countries of the English-speaking Caribbean. Part 3 reviews the 50 years of the Survey.




The Venezuelan economy grew at a rate of 5.6% in 1997, climbing out of the previous year's recession. This result was once again influenced by a notable (nearly 9%) expansion in the oil sector, although the other sectors also stepped up their activity levels, availing themselves of an improved macroeconomic climate and the favourable expectations generated by the implementation of the "Agenda Venezuela" adjustment programme in 1996. Thus the upward trend of unemployment was halted, and in the second half of the year the jobless total fell below 11%.


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