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Mexico to Rank Worst in Latin America
Economy
Mexico to Rank Worst in Latin America
Economy
Mexico - The Mexican economy will shrink two
per cent in 2009 to rank as worst in Latin
America, says here a report from the UN
Economic Commission for Latin America and
the Caribbean(ECLAC).
The report by ECLAC Executive Secretary
Alicia Barcena on El Financiero Wednesday
issue reminds that Mexico failed to meet the
UN forecasted 1.9 per cent growth and fell
to 0.5 per cent.
The document admits that the global
financial crisis may harm regional turn out.
Barcena says Latin American unemployment
rate will raise 9 per cent, surpassing the
7.5 per cent of 2008, and economic slowdown
will be key for a sizable growth in regional
poverty.
Mexico will be trailed in the shrinking GDP
by Brazil (1 per cent) and Costa Rica and
Paraguay (0.5 per cent), and Chile and
Ecuador (0).
By contrast, Bolivia and Panama will report
growth above 3 per cent.
Mexican and Central American exports will
fall as well as remittances from overseas
and income from tourism.
Barcena added that as long as the world
economic crisis persist, adversities may
grow worse for Latin America with 15 per
cent trade decline. |
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