APEC economies forecast 6% growth in 2021 with high inflation

Stock image of various containers in the port of Hong Kong, China. EFE / EPA / JEROME FAVRE

Sydney (Australia), Nov 8 (EFE) .- The Asia-Pacific Economic Cooperation Forum (APEC), which includes the United States, China, Chile, Peru and 17 other countries, forecasts a 6% growth for their economies During 2021, while warning of the rise in inflation, the bloc informs this Monday that on Friday it celebrates its summit of leaders.
In the first semester of the year, the group registered a joint growth of 8% of the Gross Domestic Product (GDP) compared to the contraction of 3.7% that it registered during the same period of 2020, points out in a statement the APEC when influencing economic uncertainties as a result of the pandemic.
Analysts also forecast 4.9% growth for next year in anticipation of the reversal of the fiscal and monetary support measures implemented by the different countries to keep their economies running.
APEC, which this Monday begins its week of telematic meetings under the rotating presidency of New Zealand with the meeting between trade and foreign ministers, underlines in its statement the “worrying increase in inflation”, with a rate of 2, 6% in the first nine months of the year, which “if left unaddressed” could affect recovery.
The director for APEC Support Policy, Denis Hew, asks for his part “to urgently address the unequal access to vaccines to avoid a two-speed recovery” by specifying that “it is essential that economic, trade and health policies are intertwined. “
The APEC forum, which this year is organized by New Zealand and which this Friday celebrates the meeting of leaders, represents 60% of world GDP and more than half of global trade, forms a market of about 2.85 billion consumers -40% of world population – and aims to establish a free trade zone between the 21 member economies.
The economies that make up the APEC, founded in 1989, are: Australia, Brunei, Canada, Chile, China, South Korea, USA, Philippines, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Russia, Singapore, Taiwan, Thailand and Vietnam.


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