2015News

DR economy: fastest growing in Latin America

Central Bank Governor Hector Valdez Albizu says that the Dominican economy grew 6.7% from January to October 2015, making it the fastest growth rate in Latin America and the Caribbean. In a speech marking the 68th anniversary of the Central Bank, Valdez said that third quarter growth was 7.1%, despite the 5.3% decline in the farming sector due to severe drought, bringing the accumulated GDP growth to 6.7%.

He forecasts that if the trend continues, the year will close with a higher GDP growth than last year, or more than 6.7%.

He mentioned that 155,189 new jobs have been created in the formal sector in the past 12 months. The Central Bank Governor concluded by listing the main growth sectors as public and private sector construction (17.8%), trade 9%, education *8.8%, finances (7.9), transport and warehousing 6.2%, tourism 5.9%, local manufacturing 5.7%, and free zone manufacturing 5.4%.

http://www.bancentral.gov.do/discursos/2015/10/23/740/discurso-del-lic-hctor-valdez-albizu-gobernador-del-banco-central-con-motivo-del-sexagsimo-octavo-aniversario-del-bcrd-23-de-octubre-de-2015