Peru will be the fastest-growing economy in the
Pacific Alliance this year, at 3.8%, outpacing those of Chile (3.5%), Colombia (3.5%), and Mexico (1.7%), the World Bank has projected.
Therefore, the 2019 growth forecast for Peru surpasses the global average growth rate of 2.6%.
Peru will continue to lead growth in
Pacific Alliance countries in 2020, posting an expansion of 3.9%, followed by Colombia (3.7%), Chile (3.1%), and Mexico (2.0%).
Latin America and the Caribbean
"Regional growth is expected to be a subdued 1.7% in 2019, reflecting challenging conditions in several of the largest economies, and to build to 2.5% in 2020, helped by a rebound in fixed investment and private consumption," reads the report.
Global outlook
On the other hand, global growth in 2019 has been downgraded to 2.6%, 0.3 percentage point below previous forecasts, reflecting weaker-than-expected trade and investment at the start of the year.
On balance, global growth is predicted to edge up to a slightly weaker-than-expected 2.7% in 2020 and to 2.8% in 2021.
(END) MDV/JJN/RMB/MVB
Published: 6/5/2019