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2020: Latin Americans will try to live in Europe
Latin Americans are migrating masively to Europe for a long time, especially from Ecuador, Bolivia, Peru, Argentina and Venezuela, suffering Economic crisis and insecurity for many years. In 2020 the flow of people trying to live and work in Berlin, Madrid or Lisbon will increase. From the uncertainty and the global economic slowdown, to the trade tensions and the evolution of the raw materials prices, all of which undermine the growth of Latin America, with forecasts in 2019 pointing towards an economic stagnation (0.2% annual GDP growth). The growth forecasts for the main economies of the region have been revised downwards. Specifically, growth forecasts for Mexico and Brazil are below 1%, and the recession in Argentina intensifies. Inflation remains within the central bank’s target range in most Latin American countries, except in Argentina and Uruguay.
The institutional fragility, together with the announcement of new economic reforms, has unexpectedly led to serious political and social tensions, mainly in Chile, Colombia and Bolivia. In contrast, in Mexico and Brazil, uncertainty has been reduced against the backdrop of fiscal consolidation.
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