“Projected growth in Latin America for 2009 is 1,9%”: ECLAC

ECLAC, a regional economic body, projected on Thursday that Latin America and the Caribbean will grow approximately 1.9% the following year. This shows a fall compared to ECLAC’s previous prediction, in August, in which the projected growth was 4.0%. As far as Colombia is concerned, the predicted annual growth rate for 2009 is 2.0%.

The report also states that “as a result of the international financial crisis, unemployment in the region is also expected to rise” from 7.5% in 2008 to 7.8%-8.1% next year.

The regional economic body also stated in the report that “the cycle of economic bonanza reaches its end in 2008, after six years of consecutive growth in the region”.

Download the chart with the predicted growth rates here or go to our documents section, where it is also available.