Economic activity increased by 6.5% in January and February 2015 due to good performance in the sectors of construction, commerce, transport and warehousing, education, local manufacturing and tourism, reports Franco A. Uccelli, in a report on Emerging Markets in Latin America for JP Morgan Securities.
The Gross Domestic Product (GDP) in the Dominican Republic had expanded 6.60% in the fourth quarter of 2014 over the same quarter of the previous year.
The growth in the Monthly Index of Economic Activity (MIEA), although down on the 7.2% from the previous year for January and February, now stands at 7.2% when compared to the rolling 12-month figure of 5.7% last year,” says Uccelli in his report.
According to Uccelli, it is projected that GDP will grow around 6% in 2015, higher than the latest projection of 5.25% made by the Central Bank and the 5.1% forecast by the International Monetary Fund (IMF).
The growth will be driven by the increase in the tourism sector, mining exports, especially gold and an increase in remittances from the overseas, as the United States economy continues to grow. The decrease in the price of oil will also help growth.
The analyst said that the impressive growth performance in the country and the recent decision by the ruling PLD to support constitutional reform to allow presidential reelection would guarantee that the Dominican economy will continue at full speed with both fiscal and monetary stability.
http://www.listindiario.com/economia-and-negocios/2015/4/21/364338/Actividad-economica-crecio-65