NewsWhore
05-15-2007, 01:20 PM
The Dominican economy, as measured through Gross Domestic Product (GDP), experienced a slight decrease in growth during the first quarter of this year, but continue to maintain a remarkable high growth pace. Preliminary estimates by the Central Bank indicate that between January and March, the economy grew 9.1% compared to a 10.9% growth during the same period last year. Central Bank governor Hector Valdez Albizu says that the figures demonstrate that the economy maintains its accelerated pace of growth. During a press conference Valdez Albizu pointed out four reasons for the growth of the economy at such a rate. The first was a 19.7% increase in imports, second was a 65% increase in exports, third was financing in the banking sector that had an absolute growth of RD$33.70 billion during this quarter. Finally, Valdez Albizu mentioned an 18.5% increase in investment. Bank statistics show US$333.1 million have entered the country in foreign investment.
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