The Economic Commission for Latin America and the Caribbean (ECLAC) yesterday predicted lower than expected economic growth for Latin America and Caribbean countries, slashing its forecast for the region by 0.7 point to 1.5 per cent.
The “Economic Survey of Latin America and the Caribbean 2018,” released by ECLAC said this regional growth is occurring in a complex global scenario, characterized by trade disputes between the United States, China and other nations; growing geopolitical risks; a decline in capital flows toward emerging markets in the last few months and a rise in sovereign risk levels; depreciations of local currencies against the dollar; and a global economic expansion that is tending to lose momentum.
It added that the economic growth is as a result of a rebound in domestic demand, private consumption especially, and a slight increase in investment.
Antigua and Barbuda is the highest rated country within the Caribbean registering growth of more than four per cent this year, according to the “Economic Survey of Latin America and the Caribbean 2018,” released by ECLAC and regarded as one of the organization’s most traditional publications, issued since it was founded in 1948.
ECLAC’s executive secretary, Alicia Bárcena, speaking at the ceremony at the ECLAC’s Sub regional headquarters here, said “our region continues to grow, although at a slower pace than what was projected several months ago, despite international turbulence.
