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Preliminary Overview of the Economies of Latin America and the Caribbean 2015

image of Preliminary Overview of the Economies of Latin America and the Caribbean 2015
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.

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Executive summary

Global economic growth is still sluggish, and will remain so in the medium term. The world economy grew by 2.4% in 2015, slightly less than the 2.6% posted in 2014. In 2016 the global economy is expected to recover somewhat, with expansion of 2.9%.

English

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