{"id":226259,"date":"2024-11-05T08:34:30","date_gmt":"2024-11-05T12:34:30","guid":{"rendered":"https:\/\/dr1.com\/news\/?p=226259"},"modified":"2024-11-05T10:25:29","modified_gmt":"2024-11-05T14:25:29","slug":"central-bank-5-1-average-economic-growth-through-september-2024","status":"publish","type":"post","link":"https:\/\/dr1.com\/news\/2024\/11\/05\/central-bank-5-1-average-economic-growth-through-september-2024\/","title":{"rendered":"Central Bank: 5.1% average economic growth through September 2024"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img src=\"https:\/\/dr1.com\/news\/wp-content\/uploads\/2024\/11\/Proyeccion-2024-del-PIB-en-AL-Banco-Central-1024x507.png\" alt=\"\" class=\"wp-image-226314\" width=\"600\" srcset=\"https:\/\/dr1.com\/news\/wp-content\/uploads\/2024\/11\/Proyeccion-2024-del-PIB-en-AL-Banco-Central-1024x507.png 1024w, https:\/\/dr1.com\/news\/wp-content\/uploads\/2024\/11\/Proyeccion-2024-del-PIB-en-AL-Banco-Central-300x149.png 300w, https:\/\/dr1.com\/news\/wp-content\/uploads\/2024\/11\/Proyeccion-2024-del-PIB-en-AL-Banco-Central-768x380.png 768w, https:\/\/dr1.com\/news\/wp-content\/uploads\/2024\/11\/Proyeccion-2024-del-PIB-en-AL-Banco-Central-1536x761.png 1536w, https:\/\/dr1.com\/news\/wp-content\/uploads\/2024\/11\/Proyeccion-2024-del-PIB-en-AL-Banco-Central.png 1680w\" sizes=\"(max-width: 706px) 89vw, (max-width: 767px) 82vw, 740px\" \/><\/figure><\/div>\n\n\n\n<p>The Dominican Republic&#8217;s economy has continued its robust growth trajectory posting a 5.1% average year-on-year expansion over the first nine months of 2024, the Central Bank reported on 1 November 2024.<\/p>\n\n\n\n<p>September 2024 alone saw a 4.7% increase in the Monthly Economic Activity Index (IMAE), indicating sustained momentum. The Central Bank attributed this strong performance to a stable price environment and prudent monetary and fiscal policies, which have helped mitigate global risks.<\/p>\n\n\n\n<p>Despite global challenges such as geopolitical tensions in the Middle East and Eastern Europe, the Dominican economy has remained resilient. The United States, the country&#8217;s primary trading partner, contributed to this positive outlook with a 2.7% year-on-year growth in the third quarter.<\/p>\n\n\n\n<p>The International Monetary Fund (IMF) has also revised its growth forecast for the Dominican Republic upward to 2.8% for 2024.<\/p>\n\n\n\n<p>The key drivers of growth have been:<br>\u2022 Construction: A 4.4% year-on-year increase, reflecting robust infrastructure development.<br>\u2022 Manufacturing: The free zone sector grew by 6.5%, with exports reaching US$6.4 billion.<br>\u2022 Services: The services sector collectively expanded by 5.3%, with notable growth in financial intermediation, hotels, restaurants, transportation, and real estate.<br>\u2022 Tourism: The tourism sector continued to thrive, with projections of 8.5 million tourist arrivals by year-end.<\/p>\n\n\n\n<p>The Central Bank highlighted the expansion of credit to the private sector, which grew by 16.2% year-on-year. This, coupled with improved country risk indicators, positions the Dominican Republic favorably for sustained growth.<\/p>\n\n\n\n<p>The Central Bank says that the outlook is for the growth momentum to continue given the strong macroeconomic fundamentals and resilient productive sector. The country continues to position itself as a regional economic leader.<\/p>\n\n\n\n<p>Read more in Spanish:<br><a href=\"https:\/\/www.bancentral.gov.do\/a\/d\/6059-economia-dominicana-acumula-crecimiento-promedio-de-51--en-eneroseptiembre-de-2024\">Central Bank <\/a><\/p>\n\n\n\n<p>5 November 2024<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Dominican Republic&#8217;s economy has continued its robust growth trajectory posting a 5.1% average year-on-year expansion over the first nine months of 2024, the Central Bank reported on 1 November 2024. September 2024 alone saw a 4.7% increase in the Monthly Economic Activity Index (IMAE), indicating sustained momentum. The Central Bank attributed this strong performance &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/dr1.com\/news\/2024\/11\/05\/central-bank-5-1-average-economic-growth-through-september-2024\/\" 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":[330,3],"tags":[],"_links":{"self":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/226259"}],"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=226259"}],"version-history":[{"count":4,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/226259\/revisions"}],"predecessor-version":[{"id":226316,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/226259\/revisions\/226316"}],"wp:attachment":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/media?parent=226259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/categories?post=226259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/tags?post=226259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}