The Economic Commission for Latin America and the Caribbean (ECLAC) updated its projections on 14 December 2016 and predicted that Venezuela will close 2016 with a 9.7 percent contraction and experience a GDP loss of 4.7 percent in 2017. Other nations with economic contractions in 2016 include Suriname at -10.4 percent, Trinidad and Tobago at -4.5 percent, Brazil at -3.6 percent, and Argentina and Ecuador at -2 percent (El Universal). The ECLAC estimated a region-wide recession of 1.1 percent in 2016, followed by a growth of 1.3 percent in 2017 (Tal Cual).