The UN agency presented the 2023 study by analyzing the macroeconomic situation of the area and examining the impact of investments to face the effects of climate change.

In presenting the document, one of the oldest made by that entity, ECLAC Executive Secretary Jose Manuel Salazar-Xirinachs said that for this year the average growth rate will be poor (1.7%), and in all cases will be below 2022.

According to the text, projection for 2024 is even lower, with a 1.5% surge of Gross Domestic Product (GDP).

Daniel Teltelman, director of the Economic Development division, pointed out that Latin America and the Caribbean are in line with the world situation, where the global GDP increase up to next December will be three points.

The situation has a direct influence on the labor market and it is expected there will be a new increase in unemployment in 2024, while informality remains very high, above 45% as a regional average.

Teltelman added that there has been a decline in prices of several products, driven by lower oil and other energy prices, but interest rates remain high, making financing more expensive.

pll/abo/ro/car/eam