Economic Survey of Latin America and the Caribbean 2003-2004

image of Economic Survey of Latin America and the Caribbean 2003-2004

This year's Survey, the fifty-sixth edition in this series, is divided into two parts. The first analyses the main features of the regional economy, while the second examines the situation in the individual countries of Latin America and the Caribbean. A summarized statistical appendix is supplemented by the more detailed information that is provided on the accompanying CD-ROM for ease of data processing.




Economic activity in Honduras recovered slightly (3.2%) in 2003 after a biennium of growth rates that barely kept pace with the increase in population. There was a significant upturn in investment, which became the most buoyant component of aggregate demand, outperforming the growth in consumption. The macroeconomic climate became more positive as inflation continued to fall (6.8%) and the exchange rate remained stable. The current account deficit and the central government’s fiscal deficit deteriorated slightly, as did labour market conditions.


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