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Argentina in unbeatable conditions to maintain its sustained economic growth
Argentina joins the growth of the area in the forth consecutive year. The days of the crisis are behind and
its growth cannot stop.
Argentina, Dominican Republic and Venezuela head the regional economic
growth
 July 25, 2006
with rates superior to 7.5 %, Argentina, Dominican Republic and Venezuela head the Latin American economic growth and the Caribbean, that will register an increase with an average of 5 % in 2006, the CEPAL has forecast today.
The majority of the countries will have an increase rate of their Gross Product in between 3.5 and 6.5 %, while Haiti is in the last place with 2.5 and 6.5 %, according to the predictions of a report the Economic Commission of the ONU for the area, with its seat in Santiago de Chile.
However, the Executive Secretary of the CEPAL, Jose Luis Machinea, estimated that the present crisis in the Middle East could change some of these estimations in the second semester of the year, pushing the petrol markets.
"I would say that on the one side, an increase of the values of the petroleum could affect some countries of the area and on the other side, that rise, added to new uncertainties at global level could influence in the interest's rates, what at the same time surely produces a withdrawal of the growth's rhythm of the world's economy", said Machinea to the radio of the United Nations.
Machinea highlighted that the Central American and some of the Caribbean countries, with the exception of Trinidad and Tobago, would be the most punished by the rise of the crude, a tendency that was already noticed in the last year's rise of the hydrocarbons.
The CEPAL expects that the Caribbean nations will register a growth of the 6.3 %, South America 5.4, and Mexico and Central America around 4.1. In 2007, the regional average will be reducing to 4.5 %, if the present conditions are maintained.
The report emphasizes that this is the second time in 25 years that the area has grown in the forth consecutive year, but noticed that the rhythm of the gross product's rise is even inferior to the other areas of the developed world.
The CEPAL also stressed that the countries of the area register less dependence of the outside financing and have began to reduce their debts, what could open up to major saving and inversion rates, if the tendency continues.
Source:
http://www.un.org/
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