Economic Survey of Latin America and the Caribbean 2002-2003

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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.




The fiscal result for 2002/2003 was a deficit bigger than the one recorded in the previous fiscal year (12.0% of GDP, as opposed to 11.0% in 2001/2002; excluding amortization and net enterprises, the percentages were 5.6% and 3.8%). This resulted from an increase in expenditure (from 42% to 44% of GDP between the two periods), since the tax/GDP ratio remained constant at 32%. In an effort to avoid increasing in its external debt stock (19% of GDP at the end of 2002), the government financed its deficit from domestic sources, particularly through the ways and means accounts and by drawing on government deposits held at the Central Bank.


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