Caribbean, Latin America growth projected near 5 percent
The United Nation's Economic Commission for Latin America and the Caribbean (ECLAC) is predicting that the gross domestic product for the overall region will increase by 4.7 percent in 2007, after an anticipated increase of 5.3 percent when final numbers for 2006 are compiled.
The ECLAC forecast for 2007 says Latin America, which includes the strong economy of the Dominican Republic, will increase by 4.7 percent in 2007. Caribbean growth is expected to reach 5.4 percent.
The report, which was released December 14, says Argentina will have the best growth rate in 2007 at 7.5 percent. The Dominican Republic, which had a projected 10 percent gain in its GDP in 2006, is expected to see a growth rate of 7.0 percent in 2007.
The Caribbean projections for 2007 are not broken out by individual country. The hottest economy in the Caribbean in 2006 was for Trinidad and Tobago, which is expected to be up 12.0 percent. Jamaica's 2006 GDP is expected to increase 2.6 percent.
Nation-by-nation statistics are available at www.eclac.org.