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According to the Central Bank report the unemployment rate has decreased to 16%, down 0.4% from April 2006. These figures come as a result of the creation of 61,818 new jobs. The same Central Bank report points to a 10.7% growth rate at the close of 2006. This is one of the highest rates of growth in all Latin America and amounts to the highest GDP growth in 19 years (in 1987 the country experienced a 10.1% growth rate). The Central Bank is forecasting a 6% growth for 2007 in its Monetary and Financial Program. The Central Bank also reports an inflation rate of 5.0% and a 2.5% quasi fiscal deficit in the GDP, below the goal of 2.8% which was established by the IMF agreement. This figure is below the 2005 mark of 2.95%. Inflation for the end of December 2007 is estimated at between 4%-6%. This estimate includes changes in world oil prices as well as the entrance of the DR-CAFTA.
Dominican Economy