Economic Survey of Latin America and the Caribbean 2009-2010

The Distributive Impact of Public Policies

image of Economic Survey of Latin America and the Caribbean 2009-2010

In 2009, the countries of Latin America and the Caribbean experienced the brunt of the global financial crisis on their levels of activity. However, since the second half of the that year, most countries in the region just begun a vigorous recovery that should strengthen with a regional GDP expansion of approximately 5.2 per cent. The factors behind a more positive performance are both external and internal in nature. Amongst the former can be included the continued dynamism of some key Asian economies, whose sustained demand for products from this region has created important conditions for a recovery in exports, especially in the case of South America.



Regional overview

In keeping with the expectations discussed by ECLAC in earlier reports, in 2010 the region has consolidated the recovery that began in the second half of 2009, and this year’s growth will be at rates similar to those of the period preceding the onset of the crisis. Regional GDP growth for 2010 is projected to be 5.2%, implying a rise of 4.1% in per capita GDP. For different reasons that will be set out in this chapter, growth rates are expected to slow towards the second half of the year, so that while the region is expected to continue expanding in 2011, it will do so more slowly. Regional growth of some 3.8% is anticipated for the coming year, which equates to a rise of 2.7% in per capita output.


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