Economic Survey of Latin America and the Caribbean 2002-2003

image of Economic Survey of Latin America and the Caribbean 2002-2003

The present edition of the Survey consists of three parts. The first part covers the main aspects of the regional economy from a sectorial and thematic perspective. The second part contains information of the analysis of the economic performance of the 19 countries of Latin America and the Spanish-speaking Caribbean and Haiti. The third part is dedicated to the remaining countries of the Caribbean, mainly English-speaking countries. Finally, the Survey offers two statistical appendixes, one of them contained in a CD-ROM distributed with the printed version.




In 2002 the fiscal balance deteriorated from -1.4% of GDP in 2001 to -10.9% in 2002 as a result of an increase in expenditure (from 34% of GDP in 2001 to 43% in 2002) and a marginal decline in tax revenues (33% and 31% of GDP in 2001 and 2002, respectively). The deficit was partly covered by financial development assistance and funds from the central bank, though central bank financing of the fiscal deficit is limited to 10% of government revenues.


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