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Central Bank says Dominican economy grew 6.6% in 2016

Santo Domingo.- The Central Bank of Dominican Republic reported that the preliminary figures show “a vigorous growth of 6.6%” of the economy, the highest in Latin America.

This was announced by Central Bank governor Hector Valdez Albizu, who said that in the last three years the Dominican Republic has been leading the growth in the region.

In a press conference, the official explains that the agricultural sector showed a significant year-on-year growth of 9.6% driven by technical programs of the Ministry of Agriculture, favorable climatic conditions for much of the year and financial support through the Agricultural Bank, the Dominican Agricultural Insurer and the Special Fund for Agricultural Development.

In the construction sector, Valdez mentioned that the expansion was 8.8%, which was driven by the execution of private residential projects, new complexes and hotels in tourist areas and in the metropolitan area, as well as by public sector investments in the modernization of the national road system, classrooms and low-cost housing projects.

The head of the Central Bank also highlighted the growth of tourism of 10% from 5.6 million foreigners who arrived in the country to 6.0 million.

“The crucial role of hotels, bars and restaurants, whose real added value increased by 6.4% in 2016, based on the arrival of foreigners and non-resident Dominicans,” the official said.

Source: DT

Jan 27, 2017

Category: DR News |

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Last updated March 28, 2017 at 10:28 PM
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