NewsWhore
03-02-2009, 04:50 PM
In his state of the nation address on 27 February, President Leonel Fernandez sent an optimistic message to Dominicans, saying that the country was weathering the storm of the current financial crisis and that there are positive prospects ahead.
For the most part, his speech was a long list of statistics and promises, including the following:
In 2008, the DR's Gross Domestic Product was up 5.3%, compared to 4.6% average for Latin America and the Caribbean, and the world average of 3.4%.
Inflation ended at 4.52% (the lowest in Latin America), when forecasts were for 12%.
Foreign investment totaled a record US$2.88 billion, balancing the effects of increases in fuel, raw materials and inputs.
Remittances were US$3.1 billion, up 2.1%, compared to US$3.04 billion in 2007.
Several light manufacturing areas showed growth: electronic products 13%, pharmaceuticals 5.4%, jewelry 11%, cigars 9.5%, agro-industrial 7%. Jobs were down from 128,000 in 2007 to 125,000 in 2008, but the good news is that 102 new companies applied for the duty free manufacturing scheme, with an investment of RD$3.7 billion pesos for 2009, and potential for creating 15,400 new jobs.
Tourism receipts were US$4.2 billion, making it the leading foreign currency producer.
A total of 3.9 billion tourists visited the DR. Growth in markets from Canada (up 8%), the US and France also posted positive growth figures, as well as Switzerland, Colombia, Argentina, Chile, Brazil and Russia.
International gross reserves were US$2.64 billion, net US$2.15 billion, and liquid reserves were at US$3.76 billion.
Pension funds system shows RD$72.16 billion pesos, or 5% of the Gross Domestic Product, mentioning that by 2016 this would be 29% of the Gross Domestic Product, a major savings chapter for making important investments in the future.
There will be relief in 2009 with the decline of the country's fuel bill by an estimated US$1.9 billion.
More... (http://www.dr1.com/index.html#2)
For the most part, his speech was a long list of statistics and promises, including the following:
In 2008, the DR's Gross Domestic Product was up 5.3%, compared to 4.6% average for Latin America and the Caribbean, and the world average of 3.4%.
Inflation ended at 4.52% (the lowest in Latin America), when forecasts were for 12%.
Foreign investment totaled a record US$2.88 billion, balancing the effects of increases in fuel, raw materials and inputs.
Remittances were US$3.1 billion, up 2.1%, compared to US$3.04 billion in 2007.
Several light manufacturing areas showed growth: electronic products 13%, pharmaceuticals 5.4%, jewelry 11%, cigars 9.5%, agro-industrial 7%. Jobs were down from 128,000 in 2007 to 125,000 in 2008, but the good news is that 102 new companies applied for the duty free manufacturing scheme, with an investment of RD$3.7 billion pesos for 2009, and potential for creating 15,400 new jobs.
Tourism receipts were US$4.2 billion, making it the leading foreign currency producer.
A total of 3.9 billion tourists visited the DR. Growth in markets from Canada (up 8%), the US and France also posted positive growth figures, as well as Switzerland, Colombia, Argentina, Chile, Brazil and Russia.
International gross reserves were US$2.64 billion, net US$2.15 billion, and liquid reserves were at US$3.76 billion.
Pension funds system shows RD$72.16 billion pesos, or 5% of the Gross Domestic Product, mentioning that by 2016 this would be 29% of the Gross Domestic Product, a major savings chapter for making important investments in the future.
There will be relief in 2009 with the decline of the country's fuel bill by an estimated US$1.9 billion.
More... (http://www.dr1.com/index.html#2)