MercoPress. South Atlantic News Agency

Latinamerica forecasted to expand 4,5%

The United Nations Latinamerica and Caribbean Economic Commission, Cepal, forecasts a much stronger growth in the region than originally expected.

Given a general recovery in the leading countries of the region the forecast of 3,8% of last May has been taken to 4,5%.

"The motor of the expansion are exports markets, responding to a more favorable international context particularly in United States, Japan and China", reads an official report from Cepal.

"Commodities markets are being propelled by Chinese demand, which benefits most countries of the region".

The activity expansion this year will be headed by Venezuela which is expected to grow 12%, followed by Uruguay 9%.

The region's leading economies are forecasted to grow 7,1% Argentina; Chile 4,8%; Mexico 3,8% and Brazil 3,7%.