Latin America will have to grow twice as much as estimated to reduce the spread of poverty, said William Maloney, the World Bank’s chief economist for the region.
According to the WB, Latin America’s GDP will close this year with a variation of 1.4% and by 2024, 2.4%, figures that are not enough to alleviate poverty or dissipate social tensions.
“It could be 4%, it could be 6%, but I’m saying that doubling it would be a good goal. It has to be better than 2.4%,” Maloney told Agencia EFE.
Chile and Argentina are the countries with the sharpest economic forecasts, recalled the economist.
Maloney added that there are now more policies to help families in various dimensions, for example by facilitating social mobility. In addition, he stressed that in the long term the most effective formula has been to boost GDP.
“We have to work on both fronts: at the family level, ensuring that we have a well-funded, well-established social safety net, but the long-term issue is growth,” he noted.
Source: Larepublica
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