NewsWhore
06-12-2012, 01:50 PM
The foreign investment, mining and remittances sectors were three high points of the Dominican economy that slowed down in the first quarter, only increasing by 3.8% versus 4.3% for the same period last year. Foreign direct investment grew by 26.5%, equal to US$128 million, and went from US$483.6 million last year to US$611.6 million this year. Meanwhile, mining grew by 25.6% by less than in the same period last year when it grew by 42.4%.
On the other hand, remittances grew by 3.6%, going from US$763.8 million to US$791.1 million for an absolute increase of US$27.3 million. According to the preliminary report on the Dominican economy released by the Central Bank, most economic activities showed a positive behavior. The report indicates that the balance of payments showed a positive trend in the quarter with the exports growing at a faster rate than the imports. The Central Bank report indicates that the exports grew by 12.2% overall, going from US$1.9 billion to US$2.2 billion. In the meantime the national imports grew by barely 5.6%, going from US$3.2 billion to US$3.4 billion. The receipt for oil imports grew by 13%, from US$1.1 billion to US$1.2 billion.
The Central Bank also reports today that government spending was up by 26.3% in the first quarter of the year compared to 2011. Government spending went from RD$85.16 billion to RD$107.6 billion. Revenues for the January-March period were RD$72.11 billion, RD$8.83 billion more than during 2011, or 14%. Current government expenditure increased to RD$74.99 billion from RD$63.79 billion for the same quarter in 2011, up 17.6%. Capital expenditure was up RD$11.23 billion, or 52.6%, for RD$32,61 in January-March 2011.
See bancentral.gov.do (http://bancentral.gov.do)
More... (http://www.dr1.com/index.html#4)
On the other hand, remittances grew by 3.6%, going from US$763.8 million to US$791.1 million for an absolute increase of US$27.3 million. According to the preliminary report on the Dominican economy released by the Central Bank, most economic activities showed a positive behavior. The report indicates that the balance of payments showed a positive trend in the quarter with the exports growing at a faster rate than the imports. The Central Bank report indicates that the exports grew by 12.2% overall, going from US$1.9 billion to US$2.2 billion. In the meantime the national imports grew by barely 5.6%, going from US$3.2 billion to US$3.4 billion. The receipt for oil imports grew by 13%, from US$1.1 billion to US$1.2 billion.
The Central Bank also reports today that government spending was up by 26.3% in the first quarter of the year compared to 2011. Government spending went from RD$85.16 billion to RD$107.6 billion. Revenues for the January-March period were RD$72.11 billion, RD$8.83 billion more than during 2011, or 14%. Current government expenditure increased to RD$74.99 billion from RD$63.79 billion for the same quarter in 2011, up 17.6%. Capital expenditure was up RD$11.23 billion, or 52.6%, for RD$32,61 in January-March 2011.
See bancentral.gov.do (http://bancentral.gov.do)
More... (http://www.dr1.com/index.html#4)