Ecuador economy grows 4.9%, according to Rafael Correa

The President of Ecuador Rafael Correa, said on August 2 that the country’s economy grew a 4.9% in the first quarter of 2014 despite the global economy’s slowing growth. 

In his weekly address, Correa said that despite the international environment that seems more difficult because the country does not have national currency, “which is a powerful instrument to stimulate the economy.”

He added that the oil sector in the first quarter grew almost a 13% and the non-oil, “which is the most responsive to economic policies,” grew “significant 4.3%.” 

Furthermore the  Economic Commission for Latin America and the Caribbean (ECLAC) will present next Monday, August 4 its Economic Study of Latin America and the Caribbean 2014, a publication that will update its qgrowth estimates for countries in the region this year. 

In the Economic Survey 2014 the economic performance of Latin America and the Caribbean will be analyzed during the first half of the year and an outlook for the coming months will be issued.