NewsWhore
05-03-2006, 03:10 PM
The results seen in the Dominican economy during the first quarter of the year have yielded a "surprising" growth in the country's Gross Domestic Product (GDP) according to the government's economic team and its leader, Central Bank governor Hector Valdez Albizu. Valdez Albizu said that the results "will surprise everyone", but he did not reveal any precise figures. He said that the full report would be released shortly.
What Valdez and the rest of the Economic Team did talk about were the results of the economic indicators for 2005, and the fact that the preliminary numbers for the first quarter of 2006 are at least as positive as the last quarter of 2005. In their report on 2005, the Central Bank said that it saw a fourth quarter GDP increase of 14.6% and a yearly GDP figure of +9.3%. The program set forth with the IMF had forecast a GDP growth of 5.5% for the present year, but, according to the hints given by Valdez Albizu, this will be surpassed by a significant margin. He said that growth for the first quarter of 2006 was similar to that of the last quarter of 2005. The CB governor also added that imports have played a significant role in the growth rate as well as the construction sector that is showing a large increase in activity.
Link To Original Article (http://www.dr1.com/index.html#1)
What Valdez and the rest of the Economic Team did talk about were the results of the economic indicators for 2005, and the fact that the preliminary numbers for the first quarter of 2006 are at least as positive as the last quarter of 2005. In their report on 2005, the Central Bank said that it saw a fourth quarter GDP increase of 14.6% and a yearly GDP figure of +9.3%. The program set forth with the IMF had forecast a GDP growth of 5.5% for the present year, but, according to the hints given by Valdez Albizu, this will be surpassed by a significant margin. He said that growth for the first quarter of 2006 was similar to that of the last quarter of 2005. The CB governor also added that imports have played a significant role in the growth rate as well as the construction sector that is showing a large increase in activity.
Link To Original Article (http://www.dr1.com/index.html#1)