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Ecuador cuts growth forecast of its economy in 2016, to less than 1%

Posted On 24 Feb 2016

 

 

 

Ecuador’s economy this year will maintain the same growth trend of 2015, of about a 0.4%, due to the steady decline in oil prices, said Tuesday the manager of the Central Bank, during a downward revision of the initial projection.

Authorities estimated that the economy of the smaller partner of the Organization of Petroleum Exporting Countries (OPEC) would expand by 1% in 2016, but adverse oil market conditions do not sustain that forecast.

 

 

Source: http://www.eluniverso.com/noticias/2016/02/23/nota/5423421/ecuador-recorta-proyeccion-crecimiento-su-economia-2016-menos-1

 

 

 

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