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15 Apr 2019, Radoslav Yordanov, EMIS Editor

ECLAC sees Ecuador growing only 0.4% in 2019

The United Nation’s Economic Commission for Latin America and the Caribbean (ECLAC) cut its 2019 growth forecast for Ecuador by 0.6% to 0.4%, Diario La Hora reported. The downward revision was mainly motivated by worsened external conditions and limited access to global financial markets.

The commission underlined that slower household spending and low export prices will also have negative impact on the local economy this year.

In this regard, the ECLAC expects the price of Ecuador’s top export goods to decline 7% in 2019. According to its estimates, the export price of agricultural products will fall 2%, while the prices of petroleum and mining shipments will drop by 16% and 5%, respectively.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: Diario La Hora