Panama will see the strongest economic growth next year, followed by Argentina. Ecuador will see the lowest expansion.
BY CHRONICLE STAFF
Latin America’s economies are expected to grow 4.2 percent next year, according to a new forecast from the International Monetary Fund. That is higher than the 3.6 percent growth the fund had forecast in April.
However, Latin America’s GDP growth next year will still be lower than the world average of 4.9 percent and lag behind the forecasted growth in all regions except the European Union. By contrast, developing Asia will grow by 8.6 percent, the IMF says.
While both Brazil and Mexico will grow faster than originally forecast (up 0.5 and 0.4 percentage points, respectively), the strongest revisions have taken place in Panama (up 2.1 percentage points), Argentina (2.0 percentage points), Costa Rica (1.5 percentage points) and Ecuador (up 1.0 percentage point), according to an analysis by Latin Business Chronicle based on IMF forecasts released in April and September.
Only one country, Haiti, has seen its growth forecast revised down, by 0.4 percentage points. The other eight countries will likely grow as the IMF originally had forecast.
Brazil, Latin America’s largest economy, will grow by 4.0 percent next year. That is better than the 3.6 percent the IMF estimates for this year. Mexico’s economy, the region’s second-largest, will …
Subscribe to latin trade magazine
Click here to begin a subscription for Latin Trade magazine, available both in print and online.
Subscribe to lt.com
Click here to begin an online subscription to LT.com, with its extensive ranking, indices, and market intelligence on Latin America.
Subscribe to free Newsletter
Subscribe here to our free newsletter – getting the latest business headlines from Latin America in your inbox every day.
By Jerry Haar and Krystal Rodriguez
The dictionary definition of crucible is “an extremely …
Latin America is at the crossroads of a new economic paradigm. The region can no longer depend …