Panama will continue to have Latin America's highest economic growth, while Mexico will have the lowest, according to a Latin Business Chronicle analysis of new data from the International Monetary Fund (IMF).
All in all, Latin America is expected to increase its GDP this year by 4.4 percent, the fund said in its latest World Economic Outlook released last week. That's a slight revision upwards from the 4.3 percent GDP growth the IMF had forecast earlier. It's also better than the IMF's forecast for global growth (3.7 percent) and economic growth in the United States (0.5 percent), the European Union (1.8 percent) and newly industrialized Asian economies (3.9 percent). However, Latin America will lag areas like developing Asia, Africa, the Middle East and the Commonwealth of Independent States when it comes to GDP growth this year.
According to a Latin business chronicle analysis, Panama will continue to have the highest level of economic growth and Mexico will have the least amount out of all the Latin American countries. Overall, Latin America is America is projected to raise its GDP this year by 4.4 percent.
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