2006News

Foreign investment pushes DR growth

According to the new 2006 outlook for the Dominican economy, all indicators point to a sustained growth during the year. The outlook is positive in several areas of its principal macro-economic indicators. Above all, the unemployment rate, that is expected to reach just 15.6% by the end of 2006. However, the authorities have opted to embark on the new course of the GDP with a lot of caution, and are working on goals as set out by the IMF of a GDP growth of just 5.5%. Some projections are pegging the GDP growth for 2006 at above the 10% level if petroleum prices stabilize on the world markets. To that end the leading economic players on the inside of the Dominican economy, Hector Valdez Albizu, Vicente Bengoa and Rafael Camilo are setting their hopes on the stability of the economy that will attract some capital back from overseas and, at the same time an increase in foreign investments, which grew by 18.5% in 2005 and are expected to grow by 22% with all the new projects being discussed.