The Economic Commission for Latin American and the Caribbean (ECLAC in English and CEPAL in Spanish) released in Santo Domingo a report that presents Dominican economic growth as a textbook case for Latin America. The "Economic and Social Development in the DR: The Past 20 Years and Perspectives for the 21st Century" was released at the Central Bank last week. The report highlights that the DR is the Caribbean country with the highest growth in the region. The Gross Domestic Product of the DR from 1991-1999 grew an average 6% and 8% during 1996-1999. ECLAC attributes the growth to the macroeconomic stability and the structural reforms of the productive sectors that created the conditions for the boom that has lasted a decade. Growth has consolidated in the areas of free zone manufacturing, tourism and telecommunications, according to the report. ECLAC Executive Secretary Jose Antonio Ocampo was in Santo Domingo for the presentation of the report.
