Latin America Economic Outlook
1 May 2023
The far-reaching impacts of the ongoing war in Ukraine, such as persistently high energy and food costs, have further weakened a global economy already reeling under the lingering economic challenges of the COVID-19 pandemic. Most economic forecasts in recent months have reflected this sentiment. Such weakening economic activity is bound to dampen growth prospects in Latin America (Latam). Consequently, we at Econosignal (the economics unit at Deloitte Spanish-Latin America) have revised our forecast for the region’s growth in 2023 from 2.0% to 1.7%.