NewsWhore
09-14-2007, 03:30 PM
In recent years the DR has made strides to stabilize its economy and recover from the 2003 banking collapse, but according to the IMF and the Economic Commission for Latin America and the Caribbean (ECLAC), the DR's external debt, as part of the GDP, is still too high, stated Economy Minister Temistocles Montas during a workshop organized by the National Association for Entrepreneurs (ANJE).
The DR has been reducing its debt as part of the GDP, (three years ago it was 57%) and by the end of this year it will be 39% or 40% of the GDP. Though the debt has fallen, it is important to note that debt hasn't fallen in absolute terms. Because the GDP has grown by an average of 10% in the last two years, the percentage has declined.
Montas explained that ideally the debt should be 25% of the GDP.
During his speech, Montas highlighted the economic successes of the Fernandez administration. He stressed that unemployment is down to 15.4% as of April 2007, compared to 19.7% in 2004. Also that the real salary has increased by 27% and the level of poverty has decreased. Today it is at 36.3% compared to 43.1% in 2004. And extreme poverty, which was at 13% last year, is currently at 11%.
See http://www.eclac.cl/cgi-bin/getProd.asp?xml=/... (http://www.eclac.cl/cgi-bin/getProd.asp?xml=/publicaciones/xml/2/29312/P29312.xml&xsl=/de/tpl-i/p9f.xsl&base=/tpl-i/top-bottom.xsl)
More... (http://www.dr1.com/index.html#2)
The DR has been reducing its debt as part of the GDP, (three years ago it was 57%) and by the end of this year it will be 39% or 40% of the GDP. Though the debt has fallen, it is important to note that debt hasn't fallen in absolute terms. Because the GDP has grown by an average of 10% in the last two years, the percentage has declined.
Montas explained that ideally the debt should be 25% of the GDP.
During his speech, Montas highlighted the economic successes of the Fernandez administration. He stressed that unemployment is down to 15.4% as of April 2007, compared to 19.7% in 2004. Also that the real salary has increased by 27% and the level of poverty has decreased. Today it is at 36.3% compared to 43.1% in 2004. And extreme poverty, which was at 13% last year, is currently at 11%.
See http://www.eclac.cl/cgi-bin/getProd.asp?xml=/... (http://www.eclac.cl/cgi-bin/getProd.asp?xml=/publicaciones/xml/2/29312/P29312.xml&xsl=/de/tpl-i/p9f.xsl&base=/tpl-i/top-bottom.xsl)
More... (http://www.dr1.com/index.html#2)