ECLAC forecasts Colombia's GDP will grow by 2.7 percent in 2017

The UN's Economic Commission for Latin America and the Caribbean (ECLAC) released its end of year economic report for Latin America as well as updated 2017 projections on 14 December 2016. The institution estimated Colombia's economy would close 2016 with a 2 percent GDP growth (0.3 percent lower than previous estimates), and that 2017 would bring a GDP growth rate of 2.7 percent - a full 0.5 percent lower than projections released in October 2016 (El Colombiano). The report also noted Latin America as a whole faces important challenges regarding economic growth, most importantly the uncertain global economic climate, which will lead to slow growth rates for the region's countries in 2017 (El Tiempo).