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The Cepal revises its estimates for 2016 and puts Ecuador in a negative balance
Posted On 10 Apr 2016
The country’s economy would decline by 0.1% compared to a previous 0.3
The United Nations Economic Commission for Latin America and the Caribbean has revised its forecasts for 2016 and estimates that Ecuador will not grow but its GDP will fall back by 0.1%. In its previous estimates, the national gross domestic product would remain at 0.3%, as reflected by official figures from the Central Bank of Ecuador for 2015.
The economy of the region will also contract this year: 1.9% in 2016.
“The new projections give an account of a difficult global environment in which the low growth remains in developed countries,” said the body in a surprise statement late Friday (I).
