Economic Survey of Latin America and the Caribbean 2008-2009

Policies for Creating Quality Jobs

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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.




The external and domestic shocks which affected the Haitian economy in 2008 resulted in a substantial deceleration of the GDP growth rate, which stood at 1.2%, as compared with 3.4% recorded in 2007. In addition, other macroeconomic indicators reversed the favourable trend from previous years. The growth rate of per capita GDP fell from 1.8% to -0.5%, the inflation rate rose from 7.9% to 19.8% and the balance-of-payments current account recorded a deficit of 4.9%, compared with a surplus equivalent to 0.2% of GDP the previous year. In contrast, the central government fiscal deficit went from 1.6% of GDP in 2007 to 1.2% in 2008.


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