Many of these findings will come as little surprise in a year of negative GDP growth with large falls in Brazil and Venezuela, where GDP dropped 3.6% and 14% respectively. The region was also affected by the reduction in commodity prices and FX volatility in 2016. In 2017, GDP growth is set to rebound with forecasts around the 1.6% mark. Growth is expected to be driven by external factors such as depreciated exchange rates, improved terms of trade and government investments. While this is good news for the region, there are still challenges that could bring a certain degree of volatility to the region.
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