World Bank: Ecuador will have the lowest economic growth in the region in 2024,

• The World Bank projects Ecuador's economy to grow by 0.7% in 2024, placing it at the bottom of the region.

• Ecuador's GDP is expected to grow by 0.7% in 2024, as per the World Bank's latest projections for Latin American countries, released on July 16, 2024.

• The World Bank forecasts that Ecuador will have the lowest economic growth in Latin America in 2024. However, the organization predicts a recovery in 2025, with a 2% increase in GDP.

• Just over a year ago, in June 2023, the World Bank estimated that Ecuador's economy would grow by 2.8%, making the current outlook more pessimistic.

• Despite this, in June 2024, the World Bank projected a 0.3% growth for the country, so the current projection of 0.7% is slightly better. Nevertheless, it will remain the country with the lowest growth in the region.

• After Ecuador, Bolivia and Brazil are expected to have the lowest growth in South America, with 1.5% each. In the Caribbean, Haiti has the lowest projection at 1.3%, also below Ecuador.

• The highest growth in Latin America and the Caribbean is projected for Guyana at 38.2% and the Dominican Republic at 5.1%.

• According to the latest update of the World Bank's Economic Outlook, the regional economy will grow by 2.3% in 2024 and 2.5% in 2025.

Source: Primicias.