NewsWhore
08-31-2010, 07:10 PM
The Central Bank says the Dominican economy grew 7.5% in the first half of the year. This compares to 1.4% GDP growth for the first half of 2009, as reported in Diario Libre.
The Central Bank attributes the growth to injections of capital that helped maintain the stability of the exchange rate and curb inflation. Sectors growing the most in 2010 were construction 15.2%, commerce 14.3%, energy and water 10.6%, manufacturing 9.3%, finances and insurance 9.7%, farming and communications 7.8%.
The construction sector benefitted from RD$24.4 billion in loans. Public sector investment was RD$31.0 billion.
Manufacturing at industrial free zone parks reportedly was down 11.1%, with apparel down 17.4%. Tourism showed a 2.2% increase in spending of visitors, compared to a 7.3% decline for the same period last year.
Inflation was 2.87%, compared to 3.19% for the same period last year.
The balance of payments shows a deficit of US$410.1 million, financed by international reserves of the Central Bank.
Imports were up 28% from US$5.68 billion in the first half of 2009 to US$7.27 billion for 2010. Non-petroleum imports increased 25.5%, going from US$3.44 billion to US$4.32 billion.
Money in circulation is up 20.9%, with the volume at RD$152.27 billion for the first half of the year.
Net liquid international reserves declined to US$1.21 billion, down US$568.7 million.
The Central Bank says that government spending was up 24.5% for the first half of the year, compared to January-June in 2009.
More... (http://www.dr1.com/index.html#1)
The Central Bank attributes the growth to injections of capital that helped maintain the stability of the exchange rate and curb inflation. Sectors growing the most in 2010 were construction 15.2%, commerce 14.3%, energy and water 10.6%, manufacturing 9.3%, finances and insurance 9.7%, farming and communications 7.8%.
The construction sector benefitted from RD$24.4 billion in loans. Public sector investment was RD$31.0 billion.
Manufacturing at industrial free zone parks reportedly was down 11.1%, with apparel down 17.4%. Tourism showed a 2.2% increase in spending of visitors, compared to a 7.3% decline for the same period last year.
Inflation was 2.87%, compared to 3.19% for the same period last year.
The balance of payments shows a deficit of US$410.1 million, financed by international reserves of the Central Bank.
Imports were up 28% from US$5.68 billion in the first half of 2009 to US$7.27 billion for 2010. Non-petroleum imports increased 25.5%, going from US$3.44 billion to US$4.32 billion.
Money in circulation is up 20.9%, with the volume at RD$152.27 billion for the first half of the year.
Net liquid international reserves declined to US$1.21 billion, down US$568.7 million.
The Central Bank says that government spending was up 24.5% for the first half of the year, compared to January-June in 2009.
More... (http://www.dr1.com/index.html#1)