1.9% economic growth forecast for this year

Cenantillas, the economic think tank of the Pontificia Universidad Catolica Madre y Maestra maintains its forecast for economic growth at year’s end. Cenantillas director, Pedro Silverio, says he expects the economy to grow 1.9% this year. He forecast inflation will increase to 8.7% this year. He expects the DR to attract US$1.05 billion in direct foreign investment next year and post a 2.9% growth rate for 2002. He says the construction, telecommunication and farming sectors will be the most dynamic, with tourism and light manufacturing having lower growth rates than in previous years.