News

Dominican Republic Economy Grew 4 Percent in First Quarter: Central Bank

By: Caribbean Journal Staff - May 31, 2012

Above: Samana

By the Caribbean Journal staff

The Dominican Republic’s economy grew by approximately 4 percent in the first quarter of 2012, according to Central Bank Governor Hector Valdez Albizu.

That number indicated that the economy was operating below its capacity, Albizu said, and has room to grow without generating price pressures.

The Governor said emerging economies have shown a more modest economic performance than expected, though growth expectations remain positive, particularly in Latin America and Asia.

The moderate growth came in part due to the country’s recent presidential election, he said, which stalled some private investment activity as the country waited to find out who would be its next leader. (Danilo Medina won the election to succeed current President Leonel Fernandez).

Earlier this year, Albizu said the country’s economy was projected to grow at a 4.5 percent clip in 2012, following identical growth in 2011.

The 4.5 percent number also matches a projection by the International Monetary Fund from April.

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