ECLAC predicts growth in the Caribbean

The Economic Commission for Latin America and the Caribbean (ECLAC) says economic growth in the Caribbean will be much slower than the rate projected for Latin America this year.



ECLAC says the Caribbean growth will be at 0.30 per cent as private sector expansion and international and domestic demands remain weak.



The projection for Latin America is 6 per cent.



But according to ECLAC, 0.30 per cent growth in the Caribbean is much better than the contraction of 3.3 per cent in 2009.



Preliminary forecasts point to positive growth of 1.6 per cent in 2011.



ECLAC say the marginal improvement in economic activity in 2010 was mainly because of the buoyancy of primary commodity prices and increased tourist receipts.