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Paraguay will lead the way with 10% growth this year in Latin America

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Latin America Economy to Grow 3.5% This Year,  the UN Panel Says

The forecasts are based on better economic performance by Brazil and Argentina, countries that in 2012 grew 0.9 per cent and 1.9 per cent, respectively
Latin America and the Caribbean will grow at a rate of 3.5 per cent in 2013, the UN Economic Commission for Latin America said on Tuesday, revising downward its earlier forecast of 3.8 per cent growth this year.

In an updated economic assessment, ECLAC predicted that the economies of the region will get a push this year after their growth rates slowed in 2012. The forecasts are based on better economic performance by Brazil and Argentina, countries that in 2012 grew 0.9 per cent and 1.9 per cent, respectively.

ECLAC estimates that the Brazilian economy will grow 3 per cent this year and the Argentine economy 3.5 per cent.

On the regional level, the expansion will be supported by a continuation of the boom in consumption, a consequence of good labour indicators and the increase in bank lending to households.

The more conservative forecast for growth this year is due mainly to the persistence of uncertainty in the international economy and the lack of economic dynamism in the developed countries, the Santiago-based UN commission said.

Paraguay will lead the expansion in 2013 with expected growth of 10 per cent, followed by Panama with 8 per cent and by Peru and Haiti, both of which are expected to grow by 6 per cent. EFE

Source: Latin American Herald Tribune
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