CARIBBEAN: Caribbean, Latin America outlook ‘dismal’ for 2016 – UN

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CARIBBEAN: Caribbean, Latin America outlook ‘dismal’ for 2016 – UN

AR-151229910TRINIDAD EXPRESS – AFTER six years of strong performance, Latin American and Caribbean economies will slow considerably next year as the global economic meltdown takes its toll on the region and unemployment rises, a United Nations agency for economic development has announced.

The gross domestic product (GDP) of the 33 Latin American and Caribbean countries will grow a projected 1.9 per cent in 2009, a marked drop from the 4.6 per cent rate a year earlier, according to preliminary figures from the UN Economic Commission for Latin America and the Caribbean (ECLAC).

Unemployment will increase to between 7.8 to 8.1 per cent next year, hitting low-income households and those headed by women the hardest and pushing many workers into the informal economy.

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