Argentina and Panama lead Latin American GDP growth this year, while El Salvador and Venezuela are the laggards.
BY LBC STAFF
Argentina will likely see Latin America’s highest GDP growth this year, according to a Latin Business Chronicle analysis of new forecasts from the International Monetary Fund (IMF).
Argentina’s economy should expand by 8 percent this year, the fund estimates. That’s higher than the estimate for Panama’s GDP, which will likely increase by 7.4 percent.
The growth this year comes after Argentina’s economy expanded by 9.2 percent last year, which was the second-best performance in Latin America (after Paraguay, which saw an exceptional jump).
BRAZIL AND MEXICO
Brazil’s economy, Latin America’s largest, will likely grow by 3.8 percent this year, less than half of the 7.65 percent expansion seen last year, the IMF says.
Mexico, the region’s second-largest economy, should also see growth of 3.8 percent, which also marks a slowdown from last year’s rate of 5.4 percent.
The countries will be at the bottom of Latin American growth this year. Their estimated GDP increases are among the six worst in the region.
Chile’s economy is expected to increase by 6.5 percent, which would be the third-highest rate in Latin America and the country’s best performance since 1997.
Paraguay and Peru round out the top five growth winners. Paraguay’s GDP will likely expand by 6.4 percent, while Peru’s economy should increase 6.2 percent.
El Salvador will be the growth laggard in Latin America this year, with an estimated expansion of only 2 percent.
Other growth laggards include Venezuela and Guatemala (2.8 percent) and Honduras (3.5 percent).
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