Preliminary overview of the economies of Latin America and the Caribbean 2014

image of Preliminary overview of the economies of Latin America and the Caribbean 2014
This publication highlights a regional slowdown in GDP growth. It argues that the currency depreciation seen in several countries in the region could, if sustained, increase incentives for investment in tradeable sectors other than the region’s traditional exports (commodities), while redirecting expenditure to ease pressure on the current account. Growth-supporting industrial, trade, environmental, social and labour policies that take into account the needs of small and medium-sized enterprises, could help lessen the region’s structural heterogeneity. Growth combined with greater equality would thus gain economic and social sustainability, with greater reliance from investment and exports than before. It is argued that this combination would be aided by social covenants for investment.



Economic activity

The GDP of the Latin American and Caribbean region grew by 1.1% in 2014, which was the slowest rate of expansion since 2009 and translated into a standstill in regional per capita GDP. The sluggish regional performance was largely determined by slow or negative growth in some of the largest economies: Argentina (-0.2%), the Bolivarian Republic of Venezuela (-3.0%) and Brazil (0.2%). Nevertheless, there were substantial differences in growth rates from one country to another.


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