The growth estimate or the gross domestic product (GDP) of the region for this 2022 will be well below what was obtained during 2021, compared to developed countries, due to a pronounced slowdown that will be experienced. However, in the midst of all the challenge of coping with a recovery after two years of the pandemic, Paraguay will be the economy that will grow the most in the region, although like all of them, it will be less than 2021, 4.6%, with a projection of 3.8% of its GDP in this 2022.

The estimate is even higher than that of Colombia, which is expected to grow 3.7%, Chile, which from 11.8% in 2021 is 1.9%, Bolivia 3.2%, Uruguay 3.1%, Brazil with a slowdown of 0.5%, Peru and even Venezuela with 3.0% and Ecuador with 2.6%. It is part of the conclusion of the annual report Preliminary Balance of the Economies 2021 of the Economic Commission for Latin America and the Caribbean (ECLAC), which highlights that this year will be one of the great challenges for growth, job creation and to face the social costs of the pandemic.

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The report indicates that the GDP of Latin America and the Caribbean will grow 2.1% in 2022, well below the 6.2% in 2021, due to the slowdown in growth throughout the region, according to the ECLAC executive secretary, Alicia Barcena. “We are facing a period of great uncertainty; we are going to face lower GDP and trade growth. Regional integration can be a driving factor for reactivation and we call on the international community to facilitate the financing of LAC”, she expressed.

Breaking down the document further, it is found that only Latin America will grow from 6.3% in 2021 to 2.0% this year, and South America will only grow 1.4%, as opposed to 6.4% the previous year, down five percentage points. Such slowdowns would occur in a context of significant asymmetries between developed, emerging and developing countries, regarding the ability to implement fiscal, social, monetary, health and vaccination policies for a sustainable recovery from the crisis unleashed by the covid-19 pandemic. 19, explains the organism.