percent in other emerging markets

well above the 1.7 percent in advanced economies and the 2.5 percent in other emerging markets. The region is vulnerable to domestic and global shocks, including from commodity prices. And while it has increased much-needed social spending, fiscal policy is not helping to boost productivity and accelerate growth as much as it could A recent study included in our October 2024 Regional Economic Outlook shows that the progress in reducing debt that Latin America made at the beginning of the century had essentially reversed in the years preceding the pandemic. During the commodity boom of 2004-13, debt fell from 50 percent to 34 percent of GDP, supported by strong economic growth, government budget surpluses สล็อต