2017News

Central Bank says economy grew 6.8% in November

The Central Bank reports that the Gross Domestic Product was up 6.8% in November 2017, compared to 4.9% in the previous month of October. The Central Bank said that this year the economy was impacted by hurricanes Irma and Maria that paralyzed normal activities nationwide for several days in September.

The Central Bank reported the release of bank cash reserve funds for lending injected the liquidity that boosted the economy. The lending flexibility measures began in early August.

The expectations are now for the year to end with a 4.5% growth of GDP. Accumulated yearly growth for 2017 as of November is 4.2%.

Growth was generated by financial services, farming, tourism (hotels, bars and restaurants), free zones, transport and warehousing, real estate, communications, construction and local manufacturing.

Read more in Spanish:
Banco Central
El Dia

28 December 2017