Between July and September of this year, the Dominican economy grew more than 5%, largely sustained by the construction sector, agribusiness, communications, and the electricity and water sector. Central Bank governor Frank Guerrero Prats says growth in the third quarter backs up predictions that the DR would have a growth rate much higher than the Latin American average. He says that by the end of the year, foreign investment will reach US$1.2 billion, of which US$850 million has already been reported. Guerrero Prats says construction grew 11.8% in the third quarter, a sector that was most affected by the economic slowdown in the first six months of the year due to a drop in public investments. Agriculture grew 12.7% during the third quarter after having decreased 3.4% between January and March, then growing 6.5% in the second quarter. Both sectors – construction and agriculture – taken together represent 24% of the nation’s Gross National Product. Communications and the electricity/water sectors reported growth rates of 26.4% and 23.9% respectively in the third quarter.
