The money in Latin Americans’ pockets made economic headlines this week thanks to a webcast on Latin America’s economic outlook for 2013. The event, in which experts reported that the region will grow 3.5% this year, was followed by nearly 5,000 people and was simultaneously broadcast on our website, América Economía and CNNExpansión.
Dozens of participants from all countries of the region asked questions. On social media, the hashtag #Perspectivas2013 became one of the most popular discussions in the region, reflecting Latin Americans’ interest in their countries’ economies given the context of the global crisis which has hit their Eurozone counterparts particularly hard.
On Twitter, @Datrusa (Daniel Trujillo) asked what countries should be doing to keep on the development path first recorded in the years prior to the 2008 crash. During his presentation, World Bank Chief Economist for Latin America Augusto de la Torre, explained that the region will no longer benefit from previously favorable global economic winds. And so, to continue to prosper the region must focus on increasing domestic consumption and productivity based on a strong manufacturing sector, particularly in the service sector.
During the live chat, many Paraguayans wanted to know about their country’s growth rate. And they will surely not be disappointed. According to the World Bank report, the Paraguayan economy will expand 11%, making it the country with the highest growth rate for 2013 in Latin America. Panama follows with 9%, and Peru with 6%. Colombia will grow 4%, Mexico, 3.5%, Brazil, 3.1% and Argentina, 3%.
The Facebook discussion also provoked interesting comments, such as that of Bustamante: “I believe that Latin America has potential for sustainable growth since, in light of the high level of uncertainty in developed economies, emerging economies such as Peru, Colombia or Chile are attracting important foreign investment.”