New ECLAC report forecasts economic growth of 5% in Venezuela at the end of 2024

Published at: 14/08/2024 12:13 PM

In its most recent report, the Economic Commission for Latin America and the Caribbean (ECLAC) predicted economic growth of 5% in Venezuela by the end of 2024, representing the highest in South America.

According to ECLAC, the only South American country that will decrease, with a drop of -3.6% in Gross Domestic Product (GDP), is Argentina, governed by the extreme right-wing libertarian Javier Milei.

Meanwhile, growth of 4% is expected for Costa Rica, while Paraguay, Honduras, Nicaragua, Uruguay, El Salvador and Guatemala will be above 3%.

The report recorded a slight decline in the growth forecast for the region this year, set at 1.8%, three tenths less than the 2.1% forecast last May.

Mazo News Team