The Economic Commission for Latin America and the Caribbean says growth rate in the region is projected to be two per cent this year, increasing slightly to 2.4 per cent next year.
ECLAC, in its Preliminary Overview of the Economies of Latin America and the Caribbean, is proposing a series of policies for the region to be able to escape the trap of low growth capacity in which it is caught.
It warned that this year and next, the region's economies will stay mired in a trap of low capacity for growth, with growth rates that will remain low and a growth dynamic that depends more on private consumption, and less on investment.
ECLAC said the average annual growth for the LAC region during the 2015-2024 decade has been one per cent, which implies stagnation of gross domestic product per capita during that period.
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