NewsWhore
06-19-2006, 03:10 PM
Starting with the 2003-2004 banking and financial crisis, some of the problems affecting the Dominican economy were exacerbated, and increased rather than decreased, in spite of the fact that the economy has grown, according to a recent study commissioned by the United States Agency for International Development (USAID), and carried out by the private consulting firm of Nathan and Associates. Efforts to narrow the gap between the haves and the have-nots have not worked, according to the report, which also points out that one of the goals for the DR should be the reduction of persistent "structural" unemployment. The study suggests that in order to reduce poverty, at least 95,000 new jobs need to be created every year. This is because unemployment reached 19.4% in 2004, and the reduction of this figure is an unavoidable priority.
The report coincides with similar reports from the World Bank and the Inter-American Development Bank published over the last two weeks that pointed out the need for higher investment in education and vocational training in order to create a favorable environment for foreign investments, business expansion and self-employment opportunities.
According to Hoy newspaper, the report, which is called "The Dominican Republic, an evaluation of its economic achievements", pointed out that the crisis of 2003-2004 was overcome with a 9% GDP increase and a projected 5.4% GDP increase for 2006, which it describes as "encouraging". Even thought the 5.4% is lower than the average of the last half of the 90s, the report says that it is a strong showing compared to the previous fall.
Link To Original Article (http://www.dr1.com/index.html#9)
The report coincides with similar reports from the World Bank and the Inter-American Development Bank published over the last two weeks that pointed out the need for higher investment in education and vocational training in order to create a favorable environment for foreign investments, business expansion and self-employment opportunities.
According to Hoy newspaper, the report, which is called "The Dominican Republic, an evaluation of its economic achievements", pointed out that the crisis of 2003-2004 was overcome with a 9% GDP increase and a projected 5.4% GDP increase for 2006, which it describes as "encouraging". Even thought the 5.4% is lower than the average of the last half of the 90s, the report says that it is a strong showing compared to the previous fall.
Link To Original Article (http://www.dr1.com/index.html#9)