Panama, Paraguay, and Peru will be the region’s growth champions for the near future. Brazil should outperform Mexico.
Latin Business Chronicle’s latest statistics on estimated economic growth for the next three years show that Paraguay, Peru, and Panama will continue to be the region’s growth champions for the near future.
Paraguay will be the only country to experience double-digit growth in the region this year, with an expected 11 percent growth, owing largely to a bumper soy crop and a recovery of the country’s beef exports after a foot-and-mouth disease outbreak last year that caused the economy to contract by 1.2 percent. However, forecasts for 2014 and 2015 but the growth at 4.6 and 4.7 percent – more modest, but still ahead of the average.
This will be followed by Panama, with an expected 9 percent growth rate boosted by growth in mining, infrastructure and construction. This is a slowdown from years past, that saw excesses of 10 percent. This slowdown is expected to continue through 2015, the year in which the Panama Canal expansion will be complete. However, with a forecasted 7.2 percent for 2014 and 6.7 percent for 2015, this is still well ahead of the Latin American average of 3.9 percent for both years.
Peru will be another strong performer, and the most consistent of the three. The economy is predicted to grow 6.3 percent this year, and should continue that rate of growth for the next two years according to LBC’s data. Similarly reliable Chile will see …
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