NewsWhore
06-15-2009, 03:10 PM
Economist Henri Hebrard says the government needs to revise the national budget now, due to the significant declines in revenue. He gave a talk on "The Seven Plagues of the Global Crisis - Challenges and Opportunities for the DR" at the Alliance Francaise.
Hebrard suggests that priority should be given to small infrastructure works that he says are the most effective in creating jobs.
As reported in Hoy, Hebrard said that a comparison of 2008 first quarter revenues with those in 2009 showed an 18.3% decline. He said that while it is true that the GDP grew 1% in the first quarter, when one excludes telecom and banking, the rest of the economy was down 3.9%. Industry declined 8.9% and construction 21.9%.
Hebrard is optimistic that the DR can take advantage of the present recession if it makes the structural changes needed.
More... (http://www.dr1.com/index.html#3)
Hebrard suggests that priority should be given to small infrastructure works that he says are the most effective in creating jobs.
As reported in Hoy, Hebrard said that a comparison of 2008 first quarter revenues with those in 2009 showed an 18.3% decline. He said that while it is true that the GDP grew 1% in the first quarter, when one excludes telecom and banking, the rest of the economy was down 3.9%. Industry declined 8.9% and construction 21.9%.
Hebrard is optimistic that the DR can take advantage of the present recession if it makes the structural changes needed.
More... (http://www.dr1.com/index.html#3)