MercoPress. South Atlantic News Agency

Latam forecasted to expand 4.4% this year and 3.5% in 2012

Alicia Barcena, ECLAC Executive Secretary

The Executive Secretary from the UN Economic Commission for Latinamerica and the Caribbean, ECLAC, Alicia Barcena said that the European crisis is beginning to be felt but nevertheless growth in the region will continue this year and in the coming twelve months at levels above 3.5%.

“We are going to live and sail through times of great uncertainty and great slowing down of growth expectations, particularly in the EU and the US and our region will not be immune or exempt from those consequences”, added Barcena.

She said that even when the region is prepared for the crisis, “this does not mean that we can keep advancing unless there is a systemic solution to global problems”.

Bárcena said that comparing the situation back in 2008 and currently, “we can see Europe and the US are not using similar approaches, opposite to what happened three years ago when collaboration could be described as closer and more compact”

Regarding growth percentages for the region, the ECLAC head said that Latinamerica can be expected to expand 4.4% this year and in 2012, and in spite of the global crisis, 3.5%.