Aug. 6 (UPI) -- The Economic Commission for Latin America and the Caribbean, or ECLAC, has raised its 2025 regional growth forecast to 2.2%, up from the 2.0% estimate issued in April.
The slight increase is due to improved economic performance in the first quarter of the year, although the agency warns the region remains stuck in a prolonged period of low growth.
In its updated outlook released Tuesday, ECLAC projects Latin America's GDP will grow by 2.3% in 2026. However, the agency cautioned that growth prospects vary significantly across countries and subregions.
South America is projected to lead regional growth in 2025, with gross domestic product expanding 2.7%, driven by recoveries in Argentina and Ecuador, faster growth in Colombia and strong performance in Paraguay. Still, other South American economies are expected to slow compared to 2024.
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