The document includes the efforts that are being made in different countries and around 80 recommendations for a transformation that will help Latin America achieve growth.
According to a statement from ECLAC, the new publication will be presented by its executive secretary, José Manuel Salazar-Xirinachs, and the director of the institution’s productive and business development division, Marco Llinás.
The agency considers that efforts to increase productivity in the region are marginal when compared to other countries, and discontinuous after changes in Government, when these agendas should be medium- and long-term. They also have low impact if the poor regional performance in this matter is examined, and there is little prominence of local territories and actors.
As explained by ECLAC, Latin America is immersed in three traps: low growth, high inequality and low institutional and governance capacity.
In this scenario, the agency forecasts an increase in the Gross Domestic Product (GDP) of only 1.8 percent by 2024.
This small GDP increase will be observed in all subregions, and will be 1.5 in South America; 2.2 in Central America and Mexico, and 2.6 in the Caribbean, not including Guyana.
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