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Projected Gross Domestic Product growth for Latin America and the Caribbean is put at 3.2% for 2021-2023, according to projections of the Inter-American Development Bank, while Brazil’s expected growth is 2.7%. When Brazil is excluded, projected growth for the Southern Cone countries–Argentina, Chile, Paraguay, and Uruguay –is 3.5%.
“Brazil has significant challenges –it needs to enact a set of pro-growth reforms, as well as adopt a fiscal policy that maintains confidence and ensures fiscal sustainability, stabilizes rising public sector debt, and gradually reduces debt levels,” said IDB’s Chief Economic Adviser Andrew Powell, speaking about the lackluster expectations for Latin America’s largest country.
By Milan Sime Martinic