MEXICO CITY - The economy of Latin America and the Caribbean will grow this year only about 0.5 percent and improving on that modest performance will take investment and technological innovation, the head of the U.N. Economic Commission for Latin America and the Caribbean, or ECLAC, said here.
"It is essential to promote investment, both private and public, and especially that which is associated with innovation," Alicia Barcena said in Mexico City at the opening of the region's 5th ministerial conference on the information society.
"The world is going through a digital revolution of great proportions. But we experience it in a very difficult context, with slowdowns and major challenges," the ECLAC executive secretary said.
Last week, ECLAC released an economic forecast for the region that included a sharp downward revision from its original projection of 2.2 percent growth in 2015.
The less promising outlook "will certainly demand that we advance toward more innovation and new partnerships among governments, markets and society," Barcena said.
To manage the economic slowdown and be able to compete in a new global environment "requires a structural change in the productive matrix" based "on knowledge and digital technologies," she said.