Sunday, 27 Jul 2025
America Age
  • Trending
  • World
  • Politics
  • Opinion
  • Business
    • Economy
    • Real Estate
    • Money
    • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion / Beauty
    • Art & Books
    • Culture
  • Health
  • Sports
  • Entertainment
Font ResizerAa
America AgeAmerica Age
Search
  • Trending
  • World
  • Politics
  • Opinion
  • Business
    • Economy
    • Real Estate
    • Money
    • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion / Beauty
    • Art & Books
    • Culture
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 America Age. All Rights Reserved.
America Age > Blog > World > Economic growth in Latin America, Caribbean seen slowing in 2023
World

Economic growth in Latin America, Caribbean seen slowing in 2023

Enspirers | Editorial Board
Share
Economic growth in Latin America, Caribbean seen slowing in 2023
SHARE

SANTIAGO (Reuters) – The expansion of economies in Latin America and the Caribbean is seen cooling next year, the United Nations economic commission for the region (ECLAC) said on Thursday, with both internal and external challenges weighing on growth.

Overall, the combined region is estimated to grow 1.3% in 2023, according to ECLAC’s forecast.

The 2023 projection is slightly down from 1.4% growth estimated in October, while ECLAC expects the region’s economies to expand by 3.7% this year, up from a previous forecast of 3.2%.

Slowing growth in Latin America and the Caribbean comes at a time of “restrictive monetary policies, greater limitations on fiscal spending and lower levels of consumption and investment,” ECLAC said in a statement.

The U.N. body pointed to the deterioration of external factors like the war in Ukraine as affecting the projections for the region.

“An increase in global inflation has caused increases in financial volatility and in levels of risk aversion,” ECLAC said, and higher prices in turn induced “lower capital flows to emerging economies, including the region’s economies.”

Lower inflation rates expected during the second half of this year, along with a slowdown in economic activity expected to continue next year, will likely reduce the pressure on monetary authorities to continue raising rates, according to the ECLAC statement.

Brazil, Latin America’s top economy, will likely grow 0.9% in 2023, down from a 2.9% expansion expected for 2022.

Mexico, the region’s No. 2 economy, is seen advancing 1.1% next year, down from 2.9% seen for 2022.

Meanwhile, Colombia’s economy is expected to grow by a much slower 1.5% next year, compared to an 8% expansion this year.

The country that will experience the fastest economic growth in the region next year is tiny Guyana, expanding by a whopping 30%, while Chile’s economy is seen shrinking 1.1% in 2023.

(Reporting by Natalia Ramos; Writing by Carolina Pulice; Editing by David Alire Garcia and Nick Zieminski)

Share This Article
Twitter Email Copy Link Print
Previous Article Debt Defaulter Zambia Seeks to Offload Costly Presidential Gulfstream Jet Debt Defaulter Zambia Seeks to Offload Costly Presidential Gulfstream Jet
Next Article Trevor Noah Returns as Grammys Host: He’ll Go ‘Off the Cuff’ and ‘Hope For The Best’ Trevor Noah Returns as Grammys Host: He’ll Go ‘Off the Cuff’ and ‘Hope For The Best’

Your Trusted Source for Accurate and Timely Updates!

Our commitment to accuracy, impartiality, and delivering breaking news as it happens has earned us the trust of a vast audience. Stay ahead with real-time updates on the latest events, trends.
FacebookLike
TwitterFollow
InstagramFollow
LinkedInFollow
MediumFollow
QuoraFollow
- Advertisement -
Ad image

Popular Posts

Russia, inflation and Washington gridlock: Biden’s next defense budget is still a big question mark

WASHINGTON ― If Russian President Vladimir Putin invades Ukraine, defense analysts anticipate growth in the…

By Enspirers | Editorial Board

US Border Patrol sending migrants to offices with no notice

NEW YORK (AP) — When Wilfredo Molina arrived in the U.S. from his native Venezuela,…

By Enspirers | Editorial Board

Coachella Weekend’s Neon Carnival Superstar Visitor Listing Revealed

Coachella A-Listers Shine within the Desert ... Neon Carnival Visitor Listing Revealed Printed April 12,…

By Enspirers | Editorial Board

Virgin River EP Unpacks Finale Twists, Looks Ahead to Season 5 — What’s Next for Jack, Charmaine and More?

Virgin River‘s fourth season finale threw viewers for so many loops, we suspect it was…

By Enspirers | Editorial Board

You Might Also Like

Pictures of youngsters ravenous in Gaza have shaken some world leaders out of inertia – however what’s going to Labor do?
World

Pictures of youngsters ravenous in Gaza have shaken some world leaders out of inertia – however what’s going to Labor do?

By Enspirers | Editorial Board
Israel pronounces day by day army pauses as fury mounts over hunger in Gaza
World

Israel pronounces day by day army pauses as fury mounts over hunger in Gaza

By Enspirers | Editorial Board
‘That idiot Putin wants to take it all’: Russia’s kamikaze ways gas a gradual advance in Ukraine
World

‘That idiot Putin wants to take it all’: Russia’s kamikaze ways gas a gradual advance in Ukraine

By Enspirers | Editorial Board
Two Australians on board boat intercepted by Israel whereas attempting to move assist to Gaza, Dfat confirms
World

Two Australians on board boat intercepted by Israel whereas attempting to move assist to Gaza, Dfat confirms

By Enspirers | Editorial Board
America Age
Facebook Twitter Youtube

About US


America Age: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company
  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement
Contact Us
  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability
Terms of Use
  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© 2024 America Age. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?