Growth projections

[NewsWhore]

Economist Bernardo Vega writes in Clave newspaper this week on the national growth forecasts. He mentions that in 2007, the Gross Domestic Product grew 7.9%. During the first quarter of 2008, the DR posted a 6.2% growth, and in the second, "due to excess spending in the re-election campaign", we grew 8.9%. He explains that an "inevitable hangover" has come next, which means a tightening during the third quarter when a bare 1.3% has been posted. He forecasts that growth for the last quarter will be 3.9%, for a 5% accumulated GDP for the entire 2008. For 2009, 3% is forecast, at a time the IMF expects Latin America on average to grow 2.5%, with the forecast for Mexico barely 0.9%. Likewise, he comments that the economies of the US and Europe are forecast to enter into a recession, and those are the source markets for our exports and services.

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