Falcondo-X-trata mine, Bonao.
Santo Domingo.- Dominican Republic's economic growth will decelerate in 2012 at 4.4% of the gross domestic product (GDP), says the World Bank Global Economic Prospects report: Growth in a Volatile World" released Tuesday.
The World Bank says after a strong recovery from the 2009 global financial crisis, economic activity in Latin America and the Caribbean again face external and domestic challenges.
It says the region’s growth overall fell to 4.3% in 2011, after having had a remarkable recovery of 6.1% after the crisis in 2010.
"Brazil, the largest economy in the region reduced its economic expansion from 7.5% in 2010 to 2.7% in 2011," the Bank says.
The World Bank table forecasts a growth of 4.4% for the Dominican economy this year, 4.6% in 2013 and 4.8% in 2014.
In the Caribbean region it said the "tourism’s sustained recovery, albeit at moderate rates, and the significant increase in the mining and extractive activity helped keep development." The World Bank added that the region’s short-term outlook is "overshadowed by the fragility and uncertainty of the external environment, high oil prices."
Written by: RoyStone, 13 Jun 2012 7:47 AM
From: Australia
The country's economic future is in mining, not tourism.
Written by: BASTA, 13 Jun 2012 7:59 AM
From: Dominican Republic, =Ghetto/Legalize Drugs/Free abortions for all
future is in Crack and other drugs + slavery. Ho for export.
Written by: RoyStone, 13 Jun 2012 8:12 AM
From: Australia
BASTA,
Write "I must not be a bad boy" on the blackboard then go and stand in the corner until told to come out!
From: Dominican Republic
Roy Stone, then you are in favor of selling the island piece by piece until the island of Hispanola disappears from the map of the world.
Strange how these numbers are coming out after the election.
Written by: Atabey, 13 Jun 2012 8:38 AM
From: United States, NYC
Foresthill,
These are not the Middle Ages. Economics has changed. Even 4.4% growth is good for these times. In Spain and some others nations it's negative! So if DR has to grow a little less rapidly, this is not a crime. Adjustments are needed as in any endeavor in life. To make an analogy in Baseball: the hitter and pitcher often adjust and change according to each others tendencies in the game.
4.4% is better than 3%, 2% ,1%
Written by: zooma, 13 Jun 2012 8:42 AM
From: United States
Roy,
There enough holes in the ground here from mining ventures to make the landscape look like swiss cheese. Barrick Gold and Falconbridge (ferro nickel) are two of the revenue makers of the mining industry here. However, the Falconbridge mining in recent years has been on again off again due to fluctuating demand and prices for the metal. There was a two year shutdown between 2008 and 2010.
Whereas, tourism has had a slow and steady growth.
Written by: danny00, 13 Jun 2012 9:45 AM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
italy has 24,000 tons of gold in its reserves.
SALES OF GOLD by European Central Banks are primarily for the adjustment of national reserves in terms of structure or size. They are not intended – according to the rules of the European Union – to pay the bills of government.
So when the subject came up in early August, after the Bank of Italy had consistently refused to even contemplate selling the country's gold reserves, everyone was surprised. The reality, however, was suddenly that the government of Italy wanted to put their hand into the country's coffers. And this exercise would never have solved the country's debt problems anyway.
The Italian parliament approved a reserve plan allowing the government to look into using the Bank of Italy's substantial gold reserves to cut the country's huge national debt. Italy has some 62% of its foreign exchange reserves value in gold, about 2,452 tonnes.
Written by: danny00, 13 Jun 2012 9:54 AM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
if europe goes under it can take the whole world with it?
in eupore they pay for their oil with dollars the euro is selling at $1.25 today, they have the euro propped up for thisa reason.
many investors are buying dollars looking for a safe haven {dont know how long its going to be a safe haven with the united states hugh debt?]
but for now thats whats going on
dont know where the dr is going in the long tearm their is no technology in the country, even brazil {a country doing great has its own problems with technology} they are sending many of their students to the sates and other countries to study over their..
{ yes its bad over in europe now but they are not going out of business and not going away in time they will have to solve their problems.
Written by: danny00, 13 Jun 2012 10:03 AM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
Worries that Greece might default on its debts or even leave Europe’s currency union have deepened since May 6, when Greeks voted in shocking numbers for a left-wing party willing to tear up Greece’s $170 billion international bailout agreement. These days, even though 80 percent of Greeks say they want to stay with the euro, talk of “drachmageddon” can be heard in conversations all around Athens — in executive suites, at mom-and-pop shops and even in nightclubs.
“A return to the drachma would be a nightmare,”
Written by: danny00, 13 Jun 2012 10:03 AM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
greece might return to the drachma if they leave the euro zone, problem with this is that if this happens if u work in greece and lets say u make $2,000 euros a month one would only get payed ? $1,000 drachma, if u sell products over their in greece and they owe u lets $20,000 euors u would only receive $10,000 drachma.
Written by: danny00, 13 Jun 2012 10:10 AM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
crack, drugs, gold silver? tourists?
man the future is in farming not the above.
the advage age of a farmer in the states is about 58y old in japan its 68y old and this older age thing goes around the world.
Written by: danny00, 13 Jun 2012 10:12 AM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
In 1935, the number of farms in the United States peaked at 6.8 million as the population edged over 127 million citizens. As the number of farmers has declined, the demand for agricultural products has increased. This increased demand has been met (and exceeded) with the aid of large-scale mechanization (the use of large, productive pieces of farm equipment), improved crop varieties, commercial fertilizers, and pesticides. The need for human labor has also declined as evidenced by the increase in agricultural labor efficiency – from 27.5 acres/worker in 1890 to 740 acres/worker in 1990 (Illinois data; Hunt, 2001).
Written by: danny00, 13 Jun 2012 10:17 AM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
As the U.S. farm population has dwindled, the average age of farmers continues to rise. In fact, about forty percent of the farmers in this country are 55 years old or older (Bureau of Labor Statistics). The graying of the farm population has led to concerns about the long-term health of family farms as an American institution
VERY FEW STUDENTS STUDY AGRICULTURAL IN THE THE COLLEGES WORLD WIDE AND FOR SURE IN THE STATES. THINK THE AUSTRALIAN'S ALSO HAVE THIS PROBLEM IN THEIR COUNTRY.
UNLESS U GROW POT YOUR NOT GOING TO JAIL FOR GROWING CORN AND WHEAT AND U CAN SLEEP WELL AT NIGHT AND WHEN ONE KNOCKS ON YOUR DOOR U DONT HAVE TO JUMP OUT YOUR WINDOW.
HOWS THAT MR BASTA? CHOO CHOO TRAIN ALL ABOARD WITH TOM AND JERRY CARTOONS NOW ON ALL TRAINS.
Written by: danny00, 13 Jun 2012 10:23 AM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
that was 2,400 tons of gold made a mistake above in my comment.
Written by: danny00, 13 Jun 2012 10:32 AM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
MAYBE THE DR CAN LEARN FORM RWANDA?
Rwanda's economy suffered heavily during the 1994 Rwandan Genocide, but has since strengthened. The economy is based mostly on subsistence agriculture. Coffee and tea are the major cash crops for export. Tourism is a fast-growing sector and is now the country's leading foreign exchange earner; Rwanda is one of only two countries in which mountain gorillas can be visited safely, and visitors are prepared to pay high prices for gorilla tracking permits. Music and dance are an integral part of Rwandan culture, particularly drums and the highly choreographed intore dance. Traditional arts and crafts are produced throughout the country, including imigongo, a unique cow dung art.
Written by: danny00, 13 Jun 2012 10:41 AM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
government corruption and transparency. …
they have put a stop for most corruption, ,and trasparency international
said they have more transparnecy then italy and greece governments have today.
all that fruad and corruption and genocide not so long ago in this country but they have learned to grow.
dont think the dr can grow and belong if the corruption continues
From: United States
beautiful picture of the smoke stack polluting the countryside.
Written by: simondc3, 13 Jun 2012 12:01 PM
From: United States
babyJ, be as careful of the waters around mining operations laced with cyanide and mercury if you want your kids not looking like Gollum and as dumb as Roystone thinks Dominicans are.
The most important words in the World Bank's report are "...high oil prices." That IS ALL YOU NEED TO CONCEPTUALIZE. See how the whole pyramid scheme of shock-and-awe neoliberal economics is wholly dependent on fuel being extra cheap then you understand slow growth is not a problem since problems tend to be temporary and/or have solutions. What we're in is a predicament, predicaments have no solutions, predicaments represent the death of a paradigm and the birth of another.
Basically we're going back to reality. For all of human history up to 1890s (up to the discovery of oil) world GDP average growth was LESS THAN 1% PER YEAR. Since the integration of oil into industry GDP has rated 3%-4%. So tell me, which is the norm? >1%/year or ~4%/yr?
You'll do well in reading well what Danny00 wrote.
Written by: simondc3, 13 Jun 2012 12:35 PM
From: United States
Danny00, you're right the future is on going back to the land, learn to grow food WITHOUT ever depleting, ever more expensive petrochemicals.
The US and China know this as well. Hence Chinese are investing massively in agricultural lands in Africa + Latin America, US invading/investing anywhere with potential oil fields. Canada and Australia? Leeching what minerals they can while they can off foreign lands since they don't want their own poisoned, while the World Bank and IMF keep us stupid hoping and waiting to go back to a growth and consumerism that won't come back.
Wait until the "six out of the seven billion people alive on the planet today discover that their food is based on oil and gas production." Oil and gas increasingly on the decline + harder & harder to get. THEN things will get interesting.
Some believe the Chinese saying, "May you live in interesting times," is a blessing, is not. We're now living such times + it'll ugly. Get wise.
Written by: simondc3, 13 Jun 2012 12:35 PM
From: United States
Danny00, you're right the future is on going back to the land, learn to grow food WITHOUT ever depleting, ever more expensive petrochemicals.
The US and China know this as well. Hence Chinese are investing massively in agricultural lands in Africa + Latin America, US invading/investing anywhere with potential oil fields. Canada and Australia? Leeching what minerals they can while they can off foreign lands since they don't want their own poisoned, while the World Bank and IMF keep us stupid hoping and waiting to go back to a growth and consumerism that won't come back.
Wait until the "six out of the seven billion people alive on the planet today discover that their food is based on oil and gas production." Oil and gas increasingly on the decline + harder & harder to get. THEN things will get interesting.
Some believe the Chinese saying, "May you live in interesting times," is a blessing, is not. We're now living such times + it'll ugly. Get wise.
From: Dominican Republic
hahahahhaha lol bull@%@%%@%t.whats a joke
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Write "I must not be a bad boy" on the blackboard then go and stand in the corner until told to come out!
Strange how these numbers are coming out after the election.
These are not the Middle Ages. Economics has changed. Even 4.4% growth is good for these times. In Spain and some others nations it's negative! So if DR has to grow a little less rapidly, this is not a crime. Adjustments are needed as in any endeavor in life. To make an analogy in Baseball: the hitter and pitcher often adjust and change according to each others tendencies in the game.
4.4% is better than 3%, 2% ,1%
Roy,
There enough holes in the ground here from mining ventures to make the landscape look like swiss cheese. Barrick Gold and Falconbridge (ferro nickel) are two of the revenue makers of the mining industry here. However, the Falconbridge mining in recent years has been on again off again due to fluctuating demand and prices for the metal. There was a two year shutdown between 2008 and 2010.
Whereas, tourism has had a slow and steady growth.
SALES OF GOLD by European Central Banks are primarily for the adjustment of national reserves in terms of structure or size. They are not intended – according to the rules of the European Union – to pay the bills of government.
So when the subject came up in early August, after the Bank of Italy had consistently refused to even contemplate selling the country's gold reserves, everyone was surprised. The reality, however, was suddenly that the government of Italy wanted to put their hand into the country's coffers. And this exercise would never have solved the country's debt problems anyway.
The Italian parliament approved a reserve plan allowing the government to look into using the Bank of Italy's substantial gold reserves to cut the country's huge national debt. Italy has some 62% of its foreign exchange reserves value in gold, about 2,452 tonnes.
in eupore they pay for their oil with dollars the euro is selling at $1.25 today, they have the euro propped up for thisa reason.
many investors are buying dollars looking for a safe haven {dont know how long its going to be a safe haven with the united states hugh debt?]
but for now thats whats going on
dont know where the dr is going in the long tearm their is no technology in the country, even brazil {a country doing great has its own problems with technology} they are sending many of their students to the sates and other countries to study over their..
{ yes its bad over in europe now but they are not going out of business and not going away in time they will have to solve their problems.
“A return to the drachma would be a nightmare,”
man the future is in farming not the above.
the advage age of a farmer in the states is about 58y old in japan its 68y old and this older age thing goes around the world.
VERY FEW STUDENTS STUDY AGRICULTURAL IN THE THE COLLEGES WORLD WIDE AND FOR SURE IN THE STATES. THINK THE AUSTRALIAN'S ALSO HAVE THIS PROBLEM IN THEIR COUNTRY.
UNLESS U GROW POT YOUR NOT GOING TO JAIL FOR GROWING CORN AND WHEAT AND U CAN SLEEP WELL AT NIGHT AND WHEN ONE KNOCKS ON YOUR DOOR U DONT HAVE TO JUMP OUT YOUR WINDOW.
HOWS THAT MR BASTA? CHOO CHOO TRAIN ALL ABOARD WITH TOM AND JERRY CARTOONS NOW ON ALL TRAINS.
that was 2,400 tons of gold made a mistake above in my comment.
MAYBE THE DR CAN LEARN FORM RWANDA?
Rwanda's economy suffered heavily during the 1994 Rwandan Genocide, but has since strengthened. The economy is based mostly on subsistence agriculture. Coffee and tea are the major cash crops for export. Tourism is a fast-growing sector and is now the country's leading foreign exchange earner; Rwanda is one of only two countries in which mountain gorillas can be visited safely, and visitors are prepared to pay high prices for gorilla tracking permits. Music and dance are an integral part of Rwandan culture, particularly drums and the highly choreographed intore dance. Traditional arts and crafts are produced throughout the country, including imigongo, a unique cow dung art.
they have put a stop for most corruption, ,and trasparency international
said they have more transparnecy then italy and greece governments have today.
all that fruad and corruption and genocide not so long ago in this country but they have learned to grow.
dont think the dr can grow and belong if the corruption continues
The most important words in the World Bank's report are "...high oil prices." That IS ALL YOU NEED TO CONCEPTUALIZE. See how the whole pyramid scheme of shock-and-awe neoliberal economics is wholly dependent on fuel being extra cheap then you understand slow growth is not a problem since problems tend to be temporary and/or have solutions. What we're in is a predicament, predicaments have no solutions, predicaments represent the death of a paradigm and the birth of another.
Basically we're going back to reality. For all of human history up to 1890s (up to the discovery of oil) world GDP average growth was LESS THAN 1% PER YEAR. Since the integration of oil into industry GDP has rated 3%-4%. So tell me, which is the norm? >1%/year or ~4%/yr?
You'll do well in reading well what Danny00 wrote.
The US and China know this as well. Hence Chinese are investing massively in agricultural lands in Africa + Latin America, US invading/investing anywhere with potential oil fields. Canada and Australia? Leeching what minerals they can while they can off foreign lands since they don't want their own poisoned, while the World Bank and IMF keep us stupid hoping and waiting to go back to a growth and consumerism that won't come back.
Wait until the "six out of the seven billion people alive on the planet today discover that their food is based on oil and gas production." Oil and gas increasingly on the decline + harder & harder to get. THEN things will get interesting.
Some believe the Chinese saying, "May you live in interesting times," is a blessing, is not. We're now living such times + it'll ugly. Get wise.
The US and China know this as well. Hence Chinese are investing massively in agricultural lands in Africa + Latin America, US invading/investing anywhere with potential oil fields. Canada and Australia? Leeching what minerals they can while they can off foreign lands since they don't want their own poisoned, while the World Bank and IMF keep us stupid hoping and waiting to go back to a growth and consumerism that won't come back.
Wait until the "six out of the seven billion people alive on the planet today discover that their food is based on oil and gas production." Oil and gas increasingly on the decline + harder & harder to get. THEN things will get interesting.
Some believe the Chinese saying, "May you live in interesting times," is a blessing, is not. We're now living such times + it'll ugly. Get wise.