Growth Expectation For Latin American, Caribbean Economies Lowered

The presentation of the report Economic Survey of Latin America and the Caribbean 2014 was held at ECLAC headquarters in Santiago, Chile. (ECLAC image)

News America, SANTIAGO, Chile, Tues. Aug. 5, 2014: Latin American and the Caribbean economies are expected to see a downturn this year, the United Nations Economic Commission for Latin America and the Caribbean, ECLAC, said Monday.

ECLAC said the regional economies are expected to grow only 2.2 percent this year, down from a previous estimate of 2.7 percent.

The report blamed a weakness in external and domestic demand and a decrease in investment for the reduced outlook for 2014.

Panama will lead the growth with an estimated 6.7 percent GDP increase, followed by Bolivia with expected growth of 5.5 percent.

In 2013, the regions’ gross domestic product grew 2.5 percent.