An economic report shows that the Dominican Republic leads the region in growth with 6%. This is in contrast to the forecast overall decline in growth for the Caribbean region at -0.3% Gross Domestic Product (GDP).
The DR’s 6% growth is followed by Panama (5.9%), Nicaragua and Bolivia (4.5%), and Costa Rica (4.3%). In addition, it forecasts a 2.8% GDP growth for Paraguay, followed by Colombia (2.7%), Chile (1.6%) and Uruguay (0.5%).
The countries that will show a contraction in their growth rate are Argentina (-1.5%), Ecuador (-2.5%), Brazil (-3.5%) and Venezuela (-8.0%).
The report was made by the Economic Commission for Latin America and the Caribbean (ECLAC).[July 2016]