{"id":171371,"date":"2022-01-03T07:36:50","date_gmt":"2022-01-03T11:36:50","guid":{"rendered":"https:\/\/dr1.com\/wordpress\/?p=171371"},"modified":"2022-01-03T11:19:09","modified_gmt":"2022-01-03T15:19:09","slug":"central-bank-economy-expected-to-close-year-at-12","status":"publish","type":"post","link":"https:\/\/dr1.com\/news\/2022\/01\/03\/central-bank-economy-expected-to-close-year-at-12\/","title":{"rendered":"Central Bank: Economy expected to close year at 12%+"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full\"><img loading=\"lazy\" width=\"600\" height=\"290\" src=\"https:\/\/dr1.com\/wordpress\/wp-content\/uploads\/2022\/01\/Hector-Valdez-Banco-Central-de-la-RD-e1641223070458.jpg\" alt=\"\" class=\"wp-image-171399\"\/><figcaption>H\u00e9ctor Valdez Albizu \/ Central Bank<\/figcaption><\/figure><\/div>\n\n\n\n<p>Central Bank governor H\u00e9ctor Valdez Albizu reported that the Monthly Economic Activity Indicator (IMAE) for November 2021 closed with an inter-annual variation of 13.1%, higher than expected, with which the January-November 2021 growth stood at 12.5%. &#8220;With this result, the conditions are in place for the Dominican economy to close 2021 with an expansion that could exceed 12.0%, one of the highest growth rates in Latin America,&#8221; said the governor.<\/p>\n\n\n\n<p>Valdez Albizu noted that the level of activity in November 2021 level was 4.3% above the level in November 2019, before the pandemic.<\/p>\n\n\n\n<p>He mentioned the sectors that contributed most to the annual growth were: hotels, bars and restaurants (38.3%); construction (25.1%); free zone manufacturing (21.2%); transportation and storage (13.0%); commerce (11.8%); local manufacturing (11.0%); other service activities (5.8%); and energy and water (5.3%).<\/p>\n\n\n\n<p>Other highlights of the economy as of November 2021 are:<\/p>\n\n\n\n<p>\u2022 Non-resident passenger arrivals are expected to reach 5 million visitors by the end of 2021, reflecting a strong rebound of the tourism sector.<\/p>\n\n\n\n<p>\u2022 Cumulative inflation to November 2021 stands at 7.71% and year-on-year core inflation at 6.63%.<\/p>\n\n\n\n<p>\u2022 Remittances and total exports continue with significant dynamism, with year-on-year growth to November 2021 of 11.2% and 21.7%, respectively.<\/p>\n\n\n\n<p>\u2022 The current account deficit for 2021 is projected to be around 1.9% of GDP, with remittance inflows exceeding US$10 billion in 2021. This deficit would be covered 1.7 times by foreign direct investment flows, which would be around US$3 billion by the end of 2021.<\/p>\n\n\n\n<p>\u2022 As of 30 November 2021, the Dominican peso has appreciated by 2.5%, contrary to the depreciation observed in the currencies of most Latin American countries.<\/p>\n\n\n\n<p>\u2022 International reserves are expected to end the year at close to US$12.8 billion, equivalent to 6.5 months of imports and 13.8% of GDP.<\/p>\n\n\n\n<p>Read more in Spanish:<br><a href=\"https:\/\/www.bancentral.gov.do\/a\/d\/5261-gobernador-valdez-albizu-informo-que-la-economia-dominicana-se-expandio-en-131--en-noviembre-2021\">Central Bank<\/a><br><\/p>\n\n\n\n<p>3 January 2022<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Central Bank governor H\u00e9ctor Valdez Albizu reported that the Monthly Economic Activity Indicator (IMAE) for November 2021 closed with an inter-annual variation of 13.1%, higher than expected, with which the January-November 2021 growth stood at 12.5%. &#8220;With this result, the conditions are in place for the Dominican economy to close 2021 with an expansion that &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/dr1.com\/news\/2022\/01\/03\/central-bank-economy-expected-to-close-year-at-12\/\" class=\"more-link\">Read more\u2026<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[293,3],"tags":[],"_links":{"self":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/171371"}],"collection":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/comments?post=171371"}],"version-history":[{"count":4,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/171371\/revisions"}],"predecessor-version":[{"id":171401,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/171371\/revisions\/171401"}],"wp:attachment":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/media?parent=171371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/categories?post=171371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/tags?post=171371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}