NewsWhore
12-20-2010, 02:50 PM
The government and the business sector have different opinions with regards to 2011. While the President said in San Francisco de Macoris that next year will be prosperous, spokesmen for the National Council of Business (CONEP) say that it will be a year with "a lot of limitations".
According to the Nuevo Diario, Economy, Planning and Development Minister Temistocles Montas says the government is projecting a 6% growth in the GDP, and an inflation rate of less than 6%. He says this would be contingent, though, on what happens in the United States and in Europe.
Montas expects exports should grow by maybe 9% with the renewal of operations at Falconbridge in February and the start of gold production by Barrick Gold in 2011.
Central Bank governor Hector Valdez Albizu said that after the fourth review of the IMF Stand By agreement, the administration expects to receive US$839.8 million between February 2011 and February 2012. He added that this injection of hard currency will help maintain macro-economic and exchange rate stability.
However, Lisandro Macarrulla, the CONEP's out-going president, sent a press note to the Nuevo Diario saying that in his opinion the world economy has not given clear signs of recovery, and that at the local level the administration had been using up its borrowing capacity. He argued that the "economies of the big countries have not awakened, above all, the United States and since we have such a huge dependency (on the US economy), we are not getting the recovery effect from the crisis in the time frame that we had envisioned".
More... (http://www.dr1.com/index.html#2)
According to the Nuevo Diario, Economy, Planning and Development Minister Temistocles Montas says the government is projecting a 6% growth in the GDP, and an inflation rate of less than 6%. He says this would be contingent, though, on what happens in the United States and in Europe.
Montas expects exports should grow by maybe 9% with the renewal of operations at Falconbridge in February and the start of gold production by Barrick Gold in 2011.
Central Bank governor Hector Valdez Albizu said that after the fourth review of the IMF Stand By agreement, the administration expects to receive US$839.8 million between February 2011 and February 2012. He added that this injection of hard currency will help maintain macro-economic and exchange rate stability.
However, Lisandro Macarrulla, the CONEP's out-going president, sent a press note to the Nuevo Diario saying that in his opinion the world economy has not given clear signs of recovery, and that at the local level the administration had been using up its borrowing capacity. He argued that the "economies of the big countries have not awakened, above all, the United States and since we have such a huge dependency (on the US economy), we are not getting the recovery effect from the crisis in the time frame that we had envisioned".
More... (http://www.dr1.com/index.html#2)