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Arrival of Dominicans for holidays boosts last quarter economic growth.
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SANTIAGO.- Central banker Héctor Valdez Albizu yesterday said the Dominican economy grew 2.1% during the first three quarters, and will grow nearly 3.0% this year.

He said inflation will be between 6 and 7%, as estimated in this year’s monetary program and third quarter growth was 3.4% higher than the same 2008 period.

Valdez spoke with the members of the North Region Industries Association (AIREN) in Santiago, where they analyzed the impact of the new agreement with the International Monetary Fund (IMF).

The official said of the US$1.7 billion in disbursements stipulated in that agreement, US$990 million will enter before the end of December, of which US$690.0 million is to finance government spending as planned in this year’s Budget, and another part to increase social spending.

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COMMENTS
7 comment(s)
Written by: JimHarrington This user is banned, 26 Nov 2009 11:13 AM
From: United States
More whitewash lies.
If you factor in inflation then the DR economy is in a downward freefall.
Don't beleive those lying payed political stooges.
Written by: josean, 26 Nov 2009 12:09 PM
From: United States
Jim,

Remember their motto "Are you going to believe us your lying eyes!"
Written by: Ricardolito, 26 Nov 2009 3:46 PM
From: Dominican Republic, vieja Santo Domingo
Is the basket that is used to calculate inflation published some where and is the weighting published or is it the same as in most other countries..does any one know???It would be good to know what items are contributing to this appalling inflation figure so we could make a better assessment . I have not noticed any recent increase in the cost of living and actually thought that most food items had gone down after they peaked as a result of Noel.
Written by: Vivacuba, 27 Nov 2009 2:41 AM
From: Dominican Republic
The reserve currency is the US peso, therefore this is a complete lie.
Written by: abc200, 27 Nov 2009 6:52 PM
From: United Kingdom, Dominican Republic
Yes more production is taking place. Little plots are creating great wealth. Now is the season of goodwill and many Americans are giving their friends seeds - collected themselves or from suppliers.
http://www.survivalseedbank.com/
This provides an excellent multiplier effect on the economy. My English friend has had a bumper crop this year.
In a country where a proprtion of the population live in a subsistance type manner with a small portion for sale there is almost a natural growth in the economy as new more productive varieties are introduced and better pig rearing techniques are used. People in developed economies are more likely to spend on tourism than on capital items ( cars boats houses etc ) Pigmeat consumption an important measure of the economy has been rising strongly.
S.
Written by: freesoldier, 28 Nov 2009 5:23 PM
From: Dominican Republic
We need to be careful with the IMF particular interest in DR to lend this amount of money (there are string attached( citizen taxes guaranteed). The IMF's main business is to take over the Central Banks via unpayable debt and then control the money supply. DR is attractive to them due to the country's GOLD RESERVES!!!, Natural Resources and Location. The country has been able to mainatain away from IMF due to the brave leaders of our past, (wont name names because it could be sentive some people) however the age in which we are living today will test the GREED of todays Leaders and unfortunatelly GREED is likely to succeed. We the people we need to be aware and question and exercecise our freedom of speach. Our way of life could be in the early stage of major change.
Written by: Vivacuba, 30 Nov 2009 3:57 AM
From: Dominican Republic
abc2000 and freesoldier,... I wish everyone reading this was in agreement with you. It would be even better if the poicy makers were in agreement. Unfortunately, they have sold all of our souls with the stroke of a pen.
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