UN forecasts economic growth in Venezuela at 2.5% in 2013
The economy of Latin America and the Caribbean is expected to grow 3.9% in 2013 and 4.4% in 2014, a United Nations report suggested
This means, however, an improvement considering the noticeable deceleration in the yearly growth of the region's gross world product (GWP), which stood at 3.1% in 2012 as against 4.3% in 2011 and 6% in 2010.
The report indicated that Brazil's economic growth in the next two years will stand at 4% in 2013 and 4.4% in 2014.
Likewise, the economic prospects for 2013 in other countries is as follows: Panama, 7.5%; Paraguay, 6.9%; Peru, 5.8%; Dominican Republic, 4.7%; Bolivia, 4.7%; Chile, 4.6%, Colombia, 4.5%; Ecuador, 4.4%; Costa Rica, 4.4%; Uruguay, 4.2%; and Nicaragua, 4.2%.
The countries reporting growth below average (3.9%) are the following: Mexico, 3.8%; Guatemala, 3.7%; Honduras, 3.5%; Cuba, 3.5%; Argentina, 3.2%; Venezuela, 2.5%; El Salvador, 2.2%.
The report also highlights the effects of the drop of Latin American exports attributed to the crisis in the US and Europe. Export in the first half of 2011 grew 28%, compared to only 4% in the same period of 2012.
Translated by Jhean Cabrera
According to inner surveys performed by the Venezuelan Association of Metallurgical and Mining Industries (AIMM), where 160 metallurgic companies were taken into consideration, 90% of the companies members of this association are "distressed because of their existence or survival in the short term," stated Manuel Eseverri, president of this association.