Continued growth

[NewsWhore]

The Dominican economy grew by 10% in 2006, achieving the second highest growth rate in the region, and will finish this year with five consecutive trimesters with a double-digit growth rate. Venezuela also enjoyed a 10% increase in its growth rate. These figures were published in a study by Economic Commission for Latin America and the Caribbean (ECLAC). ECLAC, which is known as CEPAL in Spanish, points out that the driving force in the figures is the increase in investment and not in consumption. ECLAC, a United Nations organization, expects a continued growth estimated at around 7%. Although there was in increase in the international price of oil, there is an expected inflation rate of only 4.5% in 2006 compared to 7.4% in 2005 and 28.7% in 2004. The study says that unemployment went down from 18.4% last year to 16.4% in 2006, although the real minimum salary decreased by 7%. The report by ECLAC also informed that the region's growth increased by 5.3% in 2006, which indicates a 3.8% increase per inhabitant in the region.

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