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The GDP growth outlook in 2022 had an estimate of 2.6%, however, according to the data presented by the World Bank for 2024, growth is forecast to be 2.3%, showing a decrease.
The Latin American and Caribbean region achieved important advances in macroeconomic resilience in the last three decades, which provided greater resilience, such as increasing inflationary pressures, global uncertainty and rising debt, and low commodity prices, with the convergence of poverty and employment to pre-pandemic levels.
The report estimates that regional GDP will grow by 2.0 % in 2023, slightly above the 1.4 % previously projected, but still below that of all other regions of the world.
Rates of 2.3% and 2.6% are expected for 2024 and 2025. The report suggests that countries must find ways to boost inclusion and growth, improve governance and build social consensus. Digital solutions can be part of the answer. Expanding digital connectivity, combined with complementary policies, offers the potential to create more dynamic and inclusive societies.
Translated by: A.M