2011News

Economy forecast to grow 5%

Central Bank governor Hector Valdez Albizu forecasts that the economy will close the year with a 5% growth rate. He urged Dominicans to be zealous about maintaining macro-economic stability, as reported in Diario Libre. Despite the global financial crisis, Valdez said that the economy has grown 4.2% of GDP in the January-September 2011 period. He said that 72% of economic activities show growth: mining (73.9%), free zones (13.8%), farming and cattle ranching (6.9%), local manufacturing (5.7%), education (5.3%), health (5.3%), finance (3.9%), commerce (3.7%) and tourism (3.7%).

He called for making an effort to re-pitch the economic model towards a greater focus on integrated human development, with an emphasis on education, health and equal opportunities for all. Valdez was speaking on the occasion of the Central Bank anniversary celebrations.