UPDATE 1-U.N. body ups 2010 Latam, Brazil GDP growth view

(Adds Eclac comments on Latam economies)

SANTIAGO, July 21 (BestGrowthStock) – The economy of Latin America
and the Caribbean will likely expand by 5.2 percent in 2010, up
exponentially from a previous view of 4.1 percent, the United
Nations economic body for Latin America said on Wednesday.

The Economic Commission for Latin America and the
Caribbean, or Eclac, said the region’s economy would likely
grow a more moderate 3.8 percent in 2011, given lingering
concerns over the health of the global economy.

The body sees the economy of Brazil, the region’s biggest,
soaring 7.6 percent in 2010 and 4.5 percent in 2011, while No.
2 economy Mexico is seen growing 4.1 percent this year and 3.0
percent in 2011.

Eclac lauded governments in the region for solid fiscal
policy that allowed counter-cyclical spending during the global
financial crisis. The United States and Europe are still
struggling to recover from the downturn.

“The solid macroeconomics evident in a majority of Latin
American and Caribbean countries in the years before the
international crisis marked a significant change,” Eclac said
in a release.

“Countries took advantage of an exceptional period of
economic bonanza and international finance to clean up their
public accounts.”

Investing

(Reporting by Felipe Iturrieta; Writing by Brad Haynes;
Editing by Eric Walsh)
(For a table click on [ID:nN21146139]

UPDATE 1-U.N. body ups 2010 Latam, Brazil GDP growth view