HomeBlogNationalThe UN lowers its growth prospects in Latin America due to the war in Ukraine

The UN lowers its growth prospects in Latin America due to the war in Ukraine

  • March 25, 2022
  • Posted by: medium
  • Category: National
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He lowered his prospects for the region by three tenths compared to those calculated six months ago.

The Latin American economy will grow 2.3% in 2022, the UN Conference on Trade and Development (UNCTAD) estimated this Thursday, whichlowered its prospects for the region by three tenthscompared to those calculated six months ago, due to the negative effects of the Ukrainian war on the global economy.

The effects of the rise in fuel and food prices could, however, benefit raw material exporting nations such as Argentina, and in this sense the UNCTAD reportrevised upward the expected growth for the Southern Cone country, from 2.9% calculated in September to 4.6% in the report published today.

The forecast study alsothe percentage of expected growth for Central America and the Caribbean increased(from 2.9% half a year ago to 3.5%), but lowered its outlook for Mexico by a point and a half (from 2.8% to 1.3%) and reduced its forecast for Brazil by half a point (from 1.8% to 1.3%).