ECLAC's economic growth forecast for Latin America in 2022 is 2.7 percent.
This growth forecast by the Economic Commission for Latin America and the Caribbean (ECLAC) came amid a global scenario of slowdown and inflation expected to worsen by the year's second half.
The United Nations Organization report indicates that South America will grow by 2.6 percent, Central America and Mexico by 2.5 percent, and the Caribbean by 4.7 percent.
During the press conference at which the report was presented, ECLAC's interim executive secretary, Mario Cimoli, referred to "strong inflationary pressures, the low dynamism of job creation, falls in investment and growing social demands," which imply "a complex economic outlook in 2022 and the coming years."
The conflict in Ukraine also came out. According to ECLAC, it has been responsible for a lower dynamism of global economic growth, lower availability of food and increases in the price of energy that have increased inflationary pressures."
#ECLAC forecasts that #SouthAmerica will grow 2.6% (in comparison with 6.9% in 2021); the group made up of #CentralAmerica and #Mexico will expand 2.5% (in comparison with 5.7% in 2021); and the #Caribbean 4.7%, without including Guyana. Learn more �� https://t.co/HkQvfOPgth pic.twitter.com/tfwRlLzLMN— ECLAC (@eclac_un) August 23, 2022
The latest ECLAC report from April estimated average growth of only 1.8 percent for the region in 2022.
Last year saw a 6.9 percent increase driven by a strong service recovery after the worst part of the COVID-19 pandemic.