which raises its previous forecast of 2.9%.
Similarly, the multilateral body projected that Peru's gross domestic product (GDP) will grow 2.5% in 2025, reducing its previous forecast of 2.6%.
According to figures presented by the World Bank, at the end of this year these are expected to be the growth levels of economies in the region: Paraguay (+3.9%), Uruguay (+3.2%), Brazil (+2.8%), Chile (+2.5%), Colombia (+1.5%), Bolivia (+1.4%), Ecuador (+0.3%), and Argentina (-3.5%).
The
World Bank also raised its growth forecast for
Latin America and the Caribbean by one-tenth to 1.9% for 2024 and reduced it by one-tenth to 2.6% for 2025.
The multilateral organization noted that the region is close to winning the battle against inflation and turning the page on the macroeconomic problems caused by the pandemic.
"Monetary authorities in the region have managed the multiyear challenge at least as well as their counterparts in the advanced economies, yet another sign of competent macroeconomic management," the report indicated.
"Interest rates, both in the region and now in the United States, have been falling, relieving stress on households and banking sectors, and offering some prospect of more vigorous economic activity," it added.