SANTIAGO, Chile, CMC – The Economic Commission for Latin America and the Caribbean (ECLAC) says the region’s countries will continue to face a complex economic and social scenario.
Ahead of the release of its Economic Survey of Latin America and the Caribbean, 2023, on Tuesday next week, ECLAC is forecasting low economic and international trade growth will persist and that despite declines in inflation, high-interest rates and more inferior global liquidity will continue, which entail high financing costs for the region.
In this context, growth is expected to remain low for the region’s economies in 2023 and 2024, with limited fiscal space to address growing demands for social expenditures and investment.
The second part of the report examines the impact of climate shocks on growth, public debt dynamics, and investment and financing challenges for tackling climate change.
ECLAC said the Economic Survey will include individual notes on the economic performance of each Latin American and Caribbean country in 2022 and the first half of 2023, along with their respective statistical annexes. It said the information in these individual country notes will be updated to July 30, 2023.
Financing a sustainable transition: investment for growth and climate change action, one of the institution’s flagship annual economic reports in which it takes stock of the region’s economies in recent months and updates its growth estimates for each country.
The document is the United Nations regional commission’s oldest periodic publication, and now in its 75th edition, it summarizes the performance of the region’s economy and analyzes its evolution this year.
In addition, exceptionally, it will provide ECLAC’s first 2024 growth projections for Latin American and Caribbean countries.
ECLAC said the report will be presented during a hybrid press conference at its headquarters led by its Executive Secretary, José Manuel Salazar-Xirinachs.
and then  says the region's countries will continue to face a complex economic){kind=link}