ECLAC reduced its growth estimate for Peru’s gross domestic product (GDP) for this year from 3% to 2.5%. This is due to inflationary problems, price volatility and the impact of the war in ukraine.
For the same reason, the agency lowered its forecast for economic growth from Latin America and the Caribbean from 2.1% to 1.8% by 2022.
“In the current context where the conflict of Ukraine has exacerbated inflationary problems, increased volatility and financial costs, an average growth of 1.8% is expected for the region,” the Economic Commission for Latin America and the Caribbean, a UN technical entity, said in a statement on Wednesday. based in Santiago.
The new estimate is less than the 2.1% that ECLAC had announced last January in Mexico. By subregions: the economies of South America they will grow 1.5%; those of Central America plus Mexico, 2.3%; while the Caribbean would grow 4.7% (excluding Guyana).
The war in Ukraine also caused a rise in commodity prices (commodities), mainly hydrocarbons, some metals, food and fertilizers, according to this entity.
It also warns of cost spikes seen from supply chain disruptions and shipping disruptions that have driven inflation globally.
“The inflationary dynamics in Latin America and the Caribbean has accelerated. As of March 2022, regional inflation is estimated to have been 7.5%, and many central banks in the region anticipate that inflation will remain high for the rest of the year,” ECLAC added.
Likewise, the organism estimates that this 2022 Brazil will have an annual economic growth of 0.4%, Mexico of 1.7%, Argentina of 3%, Venezuela of 5%, Colombia 4.8%, Chile 1.5% and Costa Rica 3.7%.
New projections. Source: ECLAC
Source: Larepublica
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