NewsWhore
08-05-2009, 02:30 PM
The Central Bank publishes today a report on how business borrowing has been RD$5.06 billion since December 2008, and thus the economy is recovering. He said that loans for commerce were up RD$3.48 billion and those to construction RD$1.2 billion. Loans to farming and fishing were up RD$2.18 billion in the second quarter of the year, and home mortgages increased RD$1.7 billion, while consumer loans increased RD$980 million.
Hoy reports that bank loans to the private sector have maintained the same levels of 2008 when inflation is taking into account, thus disputing the Central Bank stats show a full recovery of the economy. On the contrary, Hoy economic analysis says the numbers show there has been a slight decline in borrowing, in real terms.
The Central Bank reports that loans to the private sector were up 0.03%, but inflation registered 3.19%.
The flip side of that is that loans to the public sector increased by 16%.
Hoy explains that the global financial crisis has pushed the government to borrow from commercial banks and foreign export agencies to keep itself afloat.
More... (http://www.dr1.com/index.html#4)
Hoy reports that bank loans to the private sector have maintained the same levels of 2008 when inflation is taking into account, thus disputing the Central Bank stats show a full recovery of the economy. On the contrary, Hoy economic analysis says the numbers show there has been a slight decline in borrowing, in real terms.
The Central Bank reports that loans to the private sector were up 0.03%, but inflation registered 3.19%.
The flip side of that is that loans to the public sector increased by 16%.
Hoy explains that the global financial crisis has pushed the government to borrow from commercial banks and foreign export agencies to keep itself afloat.
More... (http://www.dr1.com/index.html#4)