Economy April 11, 2016 | 7:34 am

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Only Panama tops Dominican economic 5.5% growth in 2016: ECLAC

Santo Domingo.- The UN Economic Commission for LatinAmerica and the Caribbean (ECLAC) revised the region’s growth projections ofeconomic activity downwards, and expects an average contraction of -0.6% inLatin America and the Caribbean by 2016, the agency said in a statement.

ECLAC’s 5.5% growth estimate for the Dominican Republic is surpassedonly by Panama in the region, with 6.2%.

The new estimate shows that the regional GDP contraction in2015 (-0.5%) will continue this year.

The new projections reveal a difficult global environmentin which low growth, a significant slowdown in emerging economies, particularlyChina, increased volatility and costs in financial markets and low prices of rawmaterials in developed countries continue, particularly oil and minerals.

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