Concern over slow down in economy
According to Leonel Castellanos Duarte, president of the Herrera National Association of Business and Industry (ANEIH), the 4.7% economic growth in the first half of 2019, as announced by Héctor Valdez Albizu, governor of the Central Bank, confirms that the economy of the Dominican Republic is slowing down.
The economy had grown 5.7% in the first three months of the year. Growth in the second quarter was 3.7%. In June, growth was scarcely 2.6% that is half of the 5.25% the authorities had forecast.
Castellanos said that the results from the Central Bank measure that lowered interest rates are below expectations.
He spoke with concern on the increasing level of debt in the country. The public debt is now equal to payments on the debt of US$3.37 billion during the first half of the year, an increase of 34.4% over the same period last year when it was US$2.51 billion. This was over half of the state income, thus limiting the money available for other programs.
Source: DR1, Almomento
Aug 16, 2019
Category: DR News |