Central Bank governor says GDP grows more than expected
In the first two months of 2018, the GDP grew 6.7%, while accumulated inflation was 0.55%, says Hector Valdez Albizu, governor of the Central Bank. This is the result of 7% growth in January and 6.3% growth in February 2018. “These figures show a significant start to the year with great expectations for the first quarter,” he said.
Valdez Albizu said the peso depreciated 2.1%, which is on target given it is the time of the year when companies stock their inventories, pay dividends and make due on letters of credit opened for imports carried out in November and December.
During a speech on occasion of the 38th anniversary of the opening of the Santiago office of the Central Bank he also announced a new financial research division was in the making.
He highlighted the importance of the northern region, the Cibao that has 14 provinces. The northern region has 54% of jobs in farming, 58% of those in mining and 44% of the jobs in export duty free zones. 37.3% of the bank branches in the country (532 branches) are located in the northern region.
Source: DR1, bancentral.gov.do
April 10, 2018
Category: DR News |