Economy October 12, 2017 | 4:02 pm

ECLAC: Dominican Republic to grow 4.9% in 2017, EFE reports

Tourism, again, leads the growth

Santiago.- Latin American and Caribbean countries will grow 1.2% on average this year, while they will see a rebound in economic activity that will reach 2.2% by 2018, the highest rate since 2013, EFE reports Thurs., quoting the Economic Commission for Latin America and the Caribbean (ECLAC).

In a statement, ECLAC said that the forecast growth for this year will be slightly higher than expected at the time, which was 1.1 %. “As has been characteristic in recent years, the dynamics of growth would show differences between countries and subregions.”

It said Panama, whose GDP will reach 5.4% in 2018, will post this year’s highest growth (5.5%).

At the other end, Venezuela, the only country that will post a decline, will fall 8% in its economic activity in 2017, and a 4% decrease in 2018.

After Panama, the highest GDP growth will be Dominican Republic (4.9% in 2017 and 5.1% in 2018), Nicaragua (4.5% and 4.5%, respectively), Paraguay (4% and 4% (3.4% and 3.5%), Honduras (3.7% and 3.7%), Guatemala (3.4% and 3.5%), Uruguay (3% and 3.2%) and Peru (2.5% and 3.5%).

Argentina follows: (2.4% and 2.7%), El Salvador (2.4% and 2.4%), Mexico (2.2% and 2.4%), Colombia (1.8% and 2% , Brazil (0.7% and 2%), Ecuador (0.7% and 1) and Cuba (6%), Chile (1.5% and 2.8%), Haiti (0.5% and 0.5%).

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