July 9, 2010

The economy in Latin America and the Caribbean will have an estimated growth of 4.5% in 2010, 0.4% over the 4.1% previously estimated by the Economic Commission for Latin America and the Caribbean (ECLAC), according to its Executive Secretary, Alicia Bárcena, on June 29, 2010.

Ms. Bárcena, an economist, stated that they were estimating a few tenths over the initial forecast raising it to 4.5% growth in the region’s Gross National Product (GNP). She expressed this during an interview with EFE before she participated in the seminar “Equality and Economic Development in Mexico” held in the country’s capital.

Last December 10, upon presenting its preliminary summary of 2009, the ECLAC expected that the region would have an average growth of 4.1% after a reduction in the economy of 1.9% last year. Ms. Bárcena said they now felt that there would be an important recovery, and expected to announce the figures very soon that would show a growth greater than 4.1%.

Ms. Barcena also stated that the strongest economy will be Brazil’s, over 5.5%, and possibly up to 6%, followed by Uruguay, Peru, Chile and Panama, which continues to be a very strong economy.

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