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Latin America will grow 2.5%

The region’s economy is expected to grow above 2% in 2020, according to the report “Economic Perspectives of Latin America 2019: Development in Transition”. The document from the OECD, CEPAL and CAF, produced with the support of the European Commission, estimates that Latin American GDP will increase by 1.7% in 2019, confirming an acceleration trend compared to 1.2% in 2018.

Dedicated to the theme “Development in Transition in Latin America and the Caribbean”, the report warns that the current trade war between China and the USA, as well as the behavior of monetary policy, affect the sustainable economic growth of the region, even if in different ways. between Latin American and Caribbean countries.

The report also indicates that the region’s economies continue to share several development challenges, such as: productivity, institutional and social vulnerability, market volatility, slowdown in economic growth, environmental issues and even poverty, despite the constant decline since the beginning from the __ century.

Rethinking national policies and cooperation policies are two of the main objectives of the Development in Transition policy for the region. The OECD report advocates greater investment in Research and Development, which allows for greater diversification of productive sectors, as well as a better distribution of State wealth and resources, in order to overcome social inequalities, and greater intra-regional cooperation .

According to the report, increasing integration between Latin American countries is an opportunity to open the market to more specialization and reduce vulnerabilities.

Published in March 2019, the report Economic Perspectives of Latin America 2019: Development in Transition points out a new strategy for sustainable and inclusive development in the region, taking into account the objectives of the UN 2030 Agenda.

Source: OECD (2019), Economic Perspectives for Latin America 2019: Development in Transition . http://www.oecd.org/dev/americas/Overview_SP-Leo-2019.pdf