The Governor of the Central Bank Hector Valdez Albizu forecasts that by the end of the year the country will post a GDP growth three to four times greater than the rate that international organizations are projecting for Latin America. He said by year’s end, the fiscal deficit would be very low and that the economy was showing positive indicators and stability in its indicators.
He commented that paying low wages is the reason why the benefits of economic growth are not better distributed among the population. He said that a bank teller with a university degree could earn less per month than many a street fruit vendor in the informal sector. He called for better wages that would increase consumption, improve demand, investment and the GDP. He said that so far wages were adjusted according to inflation levels while this does not improve people’s purchasing power.
Valdez was speaking yesterday, Wednesday 17 September 2014, during the opening of the 4th International Workshop on Digital Communication organized by the Central Bank.
http://www.listin.com.do/economia-and-negocios/2014/9/17/338070/Valdez-2014-Cerrara-Casi-sin-deficit