Economic Survey of Latin America and the Caribbean 2014

Challenges to Sustainable Growth in a new External Context

image of Economic Survey of Latin America and the Caribbean 2014
The Economic Survey of Latin America and the Caribbean 2014 looks at how economic growth in the region has been slowing since 2011, and the data available for the first six months of 2014 indicate that the region will not match the growth rate of 2.5% recorded in 2013. Growth has been muted over the first few months of the year, owing to stagnant gross fixed capital formation and faltering private consumption. Government consumption, on the other hand, has picked up, and the net contribution of exports has been more positive than during the same period of the previous year. A regional growth rate of 2.2% is forecast for 2014.

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Aspects of socio-labour sustainability

The sustainability of development and economic growth undoubtedly depends on a variety of (long- and shortterm) economic factors, as discussed in the preceding chapters. Yet for some time it has been recognized that this sustainability is also determined by environmental and social aspects. While environmental factors are not addressed in this document,1 this chapter does examine some of the issues related to the social sustainability of growth, with emphasis on the relevant labour dimensions. As stated below, social and economic sustainability complement one another and are linked by key variables such as investment and productivity.

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