1996News

Economy could grow by 5% per annum

The economy could grow by 5% annually as a result of the effect of opening it up to more extensive foreign trade, say Central Bank economists, Luis Reyes Santos and Joel Tejeda Compres in their report “Determining the effect of opening the D.R.’s Economy in the Dominican Republic. They forecast that the sectors that will benefit most from lowering tax rates will be manufacturing, construction and services. On the other hand, if the economy remains closed, the resultant growth rate will only be 2.4%.