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Economic Survey of Latin America and the Caribbean 2008-2009

Policies for Creating Quality Jobs

image of Economic Survey of Latin America and the Caribbean 2008-2009

This publication comes at a critical point in the economic development of the Latin American and Caribbean region. A growth phase that the region's recent history cannot equal in nature and duration has come to an end and output is contracting. The first part of this edition looks at the channels through which the crisis is affecting the economies of the region and its impact on variables such as economic growth, employment and external-sector indicators. It also discusses the strengths and weaknesses of the countries and concludes with a discussion of the outlook for the second half of the year. The second part discusses policies for creating quality jobs, including challenges and opportunities for labor institutions and labor markets, labor-market policies for youth and women. This CD-ROM also contains the electronic versions of the printed publication. The statistical information reflects data available up to 30 June 2009.

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Peru

In 2008, for the seventh consecutive year, Peru turned in a strong economic performance. Growth reached 9.8%, formal employment grew by 8.3% and the country posted a fiscal surplus of 2.1% of GDP, which allowed public debt to be reduced once again. However, as a result of higher international prices, inflation exceeded the target range, ending the year at 6.7%. Worsening terms of trade and the strong rise in imports meant that the balance-of-payments current account deficit rose to 3.3% of GDP.

English

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