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Santo Domingo.- Central banker Héctor Valdez Albizu called Dominican Republic’s economy satisfactory, taking into account the financial crisis abroad, and announced at 4.2% growth to the third quarter, and projected at around 5% by year end.
Valdez said 72% of the economic activities posted growth, most notably in the free zones, mining, agro sector, local manufacturing and tourism, in which the height South-American foreigners has grown remarkably.
"We must make efforts so that our economic model is reoriented, with the integral development of human beings as its central axis, stressing education, health, dignified housing and equal opportunities for all… It’s fundamental to promote internal saving, investment, competitiveness, as well as higher and better national production which favors food security,” the official said.
In his speech to mark the Central Bank’s 64th anniversary, Valdez revealed that imports fell more than 10% compared with 2010, year when they posted a growth of 26.9%, compared to only 16.7% now.
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DR slides in Doing Business report
The DR has been ranked 108th in Ease of Doing Business on a list of 183 economies that were measured for the Doing Business 2012: Doing Business in a More Transparent World. The report assesses regulations affecting domestic firms in 183 economies and ranks the economies in 10 areas of business regulation such as starting a business, resolving insolvency and trading across borders.
The DR ranked 140th in Starting a business, 105th in dealing with construction permits, 123 in getting electricity, 105th in registering property, 78th in getting credit, 65th in protecting investors, 94th in paying taxes, 45th in trading across borders, 83rd in enforcing contracts and 154th in resolving insolvency.
The Dominican Republic was in 91st place in the 2011 report.
www.doingbusiness.org
in this study is seems that the ranking is relative...
"Just as the overall ranking on the ease of doing business tells only part of the story, so do changes in that ranking. Yearly movements in rankings can provide some indication of changes in an economy’s regulatory environment for firms, but they are always relative. An economy’s ranking might change because of developments in other economies. An economy that implemented business regulation reforms may fail to rise in the rankings (or may even drop) if it is passed by others whose business regulation reforms had a more significant impact as measured by Doing Business."
www.doingbusiness.org
DR's economy has been growing steadily for, at least, the past ten years. But so has the price of food, gas,medicine, construction materials and myriad other services and products.
Which, of course, means we're revving our engine, spinning our wheels and getting nowhere fast!
All this growth does not translate to a better standard of living for most. the minimum wage does not buy enough food, much less anything else!
LF talks about international "speculators", yet does nothing to control prices in DR, that by US standards, are stratospheric.
It is beyond logic that someone making 1/10Th the money, as compared to US, has to pay 10 times what the same food item costs at a supermarket, here in Maryland!