Political Risk Latin America Blog @PolRiskLatam

Mercosur with the best growth performance in the region in 2010

Posted in News and Articles, Political Risk by politicalrisklatam on December 15, 2010

by Merco Press News, December 14th, 2010.

Mercosur with the best growth performance in the region in 2010.

Following a 1.9% decline in 2009, Latin America and the Caribbean will grow 6% in 2010 thanks to the economic recovery posted by most countries in the region, points out the Cepal report. The growth forecast for 2011 is 4.2%.

Mercosur three full members will be posting the strongest 2010 growth: Paraguay, 9.7%; Uruguay, 9%; (Peru, 8.6%) and Argentina, 8.4%, while Brazil, Latam’s largest economy is expected to expand 7.7%.

In the Preliminary 2010 Overview from Cepal presented by Alicia Bárcena, Executive Secretary of this Regional Commission of the United Nations, countercyclical measures adopted by several countries in the wake of the international financial crisis have been shown to have a positive impact on economic growth, which points to a 4.8% rise in per capita GDP for this year.

The consolidation of the upturn also had a positive effect on regional employment, with the unemployment rate falling from 8.2% in 2009 to around 7.6%, while the quality of jobs created also improved.

Meanwhile, inflation edged up slightly from 4.7% in 2009 to an estimated 6.2% in 2010, mainly due to international prices for some commodities. (continue reading… )


 

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