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The Economic Commission for Latin America and the Caribbean (ECLAC) forecasts gross domestic product (GDP) growth in the region for 2022. Still, according to a report published today, the slowdown will be accentuated next year.
According to ECLAC, in 2022, the GDP will register an increase of 3.2 percent, higher than indicated in August; however, in 2023, it will barely reach 1.4 percent in a situation subject to significant external and domestic restrictions.
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The United Nations agency points out that the armed conflict in Eastern Europe affected global growth and, with it, regional external demand, in addition to accentuating inflationary pressures, volatility and financial costs.
Next year, the region's countries will again face an unfavorable international context, with a drop in both growth and global trade, higher interest rates and lower liquidity, warns ECLAC.
They will also face a complex environment for fiscal and monetary policy.
All sub-regions will show lower GDP growth in 2023. South America 1.2 percent, compared to 3.4 in 2022; Central America and Mexico 1.7, compared to 2.5 this year, and the Caribbean 3.1 compared to 4.3.
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