The Central Bank has finally issued its quarterly report. The report confirms the economy suffered from tax reforms implemented in January but seems to have rebounded with March showing signs of recovery and reflecting the resilience of the private sector. The Central Bank says the 2.4% growth in March confirms the economy is healthy. Official figures show the economy had declined 0.9% in January, 4.7% in February. Growth areas were telecommunications (17.4%), electricity (9.4%), government (5.7%), tourism (3.6%), finance (1.3%), housing (5.3%). Construction declined 7.6%, manufacturing 7.2%, commerce 5.1%, transport 5.6%, mining 3.4% and agriculture 1.5%. Government jobs increased from 314,405 jobs in 1999 to 327,655 in 2000 and 346,330 jobs in 2001, costing the country more than RD$600 million more. Capital expenditures declined 25%. The country nevertheless had a US$20.5 million surplus in the current account of the Balance of Payments, reflecting a decline of 7.1% in imports. To view the complete report, see http://bancentral.gov.do/pubeco.html#trimestral
