(MENAFN) On the back of sluggish trade and the decline in raw material prices, Latin America and the Caribbean forecast an economic growth of only 0.7 percent over the 2nd half of this year.
In more detail, the entire region is facing very tough situations, such as low prices for raw materials, the strengthening of the U.S. dollars, and the infamous turmoil of China.
The Caribbean will show the strongest growth in 2016, set to hit 2.6 percent, but Mexico and Central America will grow by a joint low 2.9 percent, due to higher local demand.
However, recent reports show that 2016 will be better for the region than last year, when it contracted by 0.5 percent, which gives a glimpse of hope for a shy but sturdy comeback.
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