Have you heard of the term: "cooking the books"? Your very own Dominican Central Bank is preparing quite the sancocho.
The Central Bank website provides the following document:
"INFORME DE LA ECONOMIA DOMINICANA
ENERO-DICIEMBRE 2004
RESUMEN EJECUTIVO"
http://www.bancentral.gov.do/publicaciones_economicas/infeco/resumen_econmia.pdf
Above document uses basic arithmetic to convey salient points of the 2004 DR economy. I wanted to find out the 2004 DR$ nominal GDP (Producto Interno Bruto, PIB).
Claim #1 (page 2): US$1943 per capita income in 2004. Using 30:1 exchange rate, 8.95Million people
--> GDP = DR$525Billion
Claim #2 (page 5): DR$22.39Billion Central Bank deficit is 2.9% of PIB. DR$22.39Billion/0.029
--> GDP = DR$772Billion
Will the Real GDP please stand up? DR$525Billion? DR$772Billion?
The Central Bank website provides the following document:
"INFORME DE LA ECONOMIA DOMINICANA
ENERO-DICIEMBRE 2004
RESUMEN EJECUTIVO"
http://www.bancentral.gov.do/publicaciones_economicas/infeco/resumen_econmia.pdf
Above document uses basic arithmetic to convey salient points of the 2004 DR economy. I wanted to find out the 2004 DR$ nominal GDP (Producto Interno Bruto, PIB).
Claim #1 (page 2): US$1943 per capita income in 2004. Using 30:1 exchange rate, 8.95Million people
--> GDP = DR$525Billion
Claim #2 (page 5): DR$22.39Billion Central Bank deficit is 2.9% of PIB. DR$22.39Billion/0.029
--> GDP = DR$772Billion
Will the Real GDP please stand up? DR$525Billion? DR$772Billion?