The economies of Latin America and the Caribbean should experience a moderate recovery in 2018, expanding 2.2% next year after recording an average 1.3% growth this year, said the Economic Commission for Latin America and the Caribbean (ECLAC) in its preliminary report on 2017.
Next year, the global economy should expand at rates close to those of 2017, around 3%, and that there should be greater relative dynamism of emerging economies compared to developed ones. Broad liquidity and low international interest rates should remain unchanged.
ECLAC expects South-American economies to grow 2% in 2018, from 0.8% in 2017. Central America, on the other hand, may expand 3.6%, up from 3.3% in 2017.
The activity in Brazil should improve further, with the country growing 2% in 2018, from 0.9% in 2017. Also, several nations that were growing at moderate rates may see a higher expansion rate – Chile, from 1.5% in 2017 to 2.8% Colombia, from 1.8% to 2.6%
In Latin America, Panama is expected to be the economy that should record the highest growth rate next year (+5.5%), followed by the Dominican Republic (+5.1%), and Nicaragua (+5.0%). Cuba, Ecuador, and Venezuela should show figures of 1%, 1.3% and -5.5%, respectively, while the rest of the economies of Latin America will grow between 2% and 4%.