Ecuador: Economy to shrink 1.7 percent in 2016

Posted on September 2, 2016 • Filed under: Business, Economy, Ecuador reported Ecuador’s central bank said on Thursday it expects the economy to shrink 1.7 percent this year, switching its previous forecast for growth due to lower oil prices and the devastating effects of a earthquake that shook the country in April.
The central bank of Ecuador had forecast ed growth of 1 percent for 2016. Officials still believe oil sector will have a small growth of 0.8 percent for the year. And, they believe the non-oil sector will decrease 2.6 percent. Read Article

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