Xinhua News Agency, Santiago, October 23 (Reporter Zhu Yubo) The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) announced on the 23rd that it raised its economic growth forecast for Latin America and the Caribbean in 2025 to 2.4% and maintained its growth forecast for 2026. Unchanged at 2.3%.

The announcement pointed out that the expected increase reflects the external environment that affects the Latin American economy better than previously expected, but the economic outlook will still be pushed by multiple downward risks, such as slowing global inflation than expected, sharp adjustments in international financial markets, rising fiscal sustainability pressures in developed economies, or negative impacts on the region¡¯s economic growth.

ECLAC expects South America's economy to grow by 2.9% in 2025, higher than the 2.7% forecast in August. This increase is mainly due to the increase in trade volume between South American countries and China, as well as the rebound in the prices of precious metals and other natural resources; Central America and Mexico will grow by 1.2%; The economic growth forecast of the Caribbean (excluding Guyana) was slightly raised to 1.9%, mainly due to the better-than-expected performance of tourism.

In its announcement, the ECOWAS called on the countries of the region to maintain macroeconomic stability, increase productivity, promote export diversification, expand intra-regional trade and encourage sustainable investment.The agency believes that international cooperation and multilateralism are crucial for consolidating the momentum of economic recovery and mitigating geoeconomic fragmentation.

In the annual economic research report released in August this year, ECLAC predicted that the economy of Latin America and the Caribbean would grow by 2.2% in 2025 and 2.3% in 2026.