ECLAC says region must grow at rate of 4 per cent to eliminate poverty by 2030

ECLAC says region must grow at rate of 4 per cent to eliminate poverty by 2030

Tuesday, October 27, 2020

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KINGSTON, Jamaica — The Economic Commission for Latin America and the Caribbean (ECLAC) says the region must grow at a rate of at least four per cent a year and carry out a sharp redistribution of income (of up to three per cent of GDP annually) in order to eliminate poverty by 2030.

This was revealed in a study, entitled 'Building a New Future: Transformative Recovery with Equality and Sustainability' presented today by Alicia Bárcena, ECLAC's executive secretary, to the commission's member countries and associate members during its 38th session, which is taking place virtually through October 28.

The ECLAC said this growth will only be possible if external constraints on growth are overcome through authentic competitiveness based on the development of nations' human and technological capacities.

“Latin America and the Caribbean must move towards a big push for sustainability with a view to forging a new development pattern and towards implementation of the 2030 Agenda for Sustainable Development. A virtuous combination of policies can make the proposal of growth for equality and equality for growth a reality,” the study said.

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