Economic Survey of Latin America and the Caribbean 2009-2010
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Economic Survey of Latin America and the Caribbean 2009-2010

The Distributive Impact of Public Policies

In 2009, the countries of Latin America and the Caribbean experienced the brunt of the global financial crisis on their levels of activity. However, since the second half of the that year, most countries in the region just begun a vigorous recovery that should strengthen with a regional GDP expansion of approximately 5.2 per cent. The factors behind a more positive performance are both external and internal in nature. Amongst the former can be included the continued dynamism of some key Asian economies, whose sustained demand for products from this region has created important conditions for a recovery in exports, especially in the case of South America.

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Author(s):
ECLAC

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In 2009, as a result of the international financial crisis, the fall in oil prices, a drop in remittances and slacker domestic demand, the Ecuadorian economy grew by 0.4%, well below the rate of 7.2% seen in 2008 but above the regional average. Conditions improved in late 2009 and there were clear signs of an upturn. Consequently, a stronger economic performance is expected for 2010, with growth projected at 2.5%.