Dominican Economy Will Close The Year With A Growth Rate Of 10%

• In a speech on the occasion of the 74th anniversary of the Central Bank, Governor Héctor Valdez Albizu revealed that the country’s gross domestic product (GDP) reached a growth of 12.7% in the first nine months of this year and projected that at the end of this 2021 it would be double digits (10%) or more. 
• Valdez Albizu cited the Hotels, Bars and Restaurants sector as the great driver of growth from January to September, with 31.8%; followed by construction with 30%, free zones 24%, among other activities that in turn contributed to an increase in formal and informal employment. 
• However, he stressed that as in previous months, construction was once again the activity with the highest impact on growth, representing almost 80% of gross fixed capital formation. 
• “The remarkable performance of the first nine months of the year consolidates the projection that the Dominican Republic will achieve a double-digit expansion at the end of 2021, that is, 10% or more, placing the country again as one of the fastest growing economies in Latin America,” the governor said in his speech.

(Source: Dominican Today)