ECLAC sights fall in Venezue­lan and Saint Lu­cian Econ­omy in 2014

The Star (St. Lucia) - - LOCAL -

The economies with the high­est growth this year in Latin Amer­ica were Panama and the Do­mini­can Repub­lic (both +6%), fol­lowed by Bo­livia (+5.2%), Colom­bia (+4.8%) and Nicaragua (+4.5%). Venezuela, on the other hand, is among the economies re­port­ing low growth in Latin Amer­ica in 2014, the Eco­nomic Com­mis­sion for Latin Amer­ica and the Caribbean (ECLAC) in­formed on Tues­day.

Ac­cord­ing to the body, this year Venezuela could ex­pe­ri­ence a 3% shrink­age, while a 1% de­cline is ex­pected next year.

The United Na­tions com­mis­sion pre­sented a re­port fea­tur­ing an over­view of the economies of the Latin Amer­i­can re­gion. Ac­cord­ing to the ECLAC, Venezue­lan ex­ports stag­nated, and im­ports shrank by 17.7%.

The ECLAC pointed out that the economies of Latin Amer­ica and the Caribbean will grow 1.1% in 2014, the low­est level in five years.

Shrink­age was recorded in the economies of Venezuela (-3.0%), Ar­gentina (-0.2), and Saint Lu­cia (-1.4%).

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