ECLAC warns about reduction of growth in Latin America for 2014

The Economic Commission for Latin America and the Caribbean (ECLAC) announced this Monday the growth reduction for Latin America in 2014. Figures would vary from 2.7% to 2.2% by weak external and domestic demand.

“The economies of Latin America and the Caribbean will grow an average of 2.2% in 2014, due to weak external demand, sluggish domestic demand, underinvestment and limited space for the implementation of policies that promote revival”, they noted in a release.

In the medium term it is expected less buoyant demands for major exports and a more expensive external financing.

Panama would lead the growth in the region in 2014 with 6.7%, followed by Bolivia (5.5%), Colombia, Dominican Republic, Ecuador and Nicaragua, with an expansion of 5%.