Dominican Republic Outpacing LatAm Growth
World Economy

Dominican Republic Outpacing LatAm Growth

The Dominican Republic’s economy is likely to expand by about 6% this year as construction and tourism continue to buoy one of the fastest-growing countries in the region, President Danilo Medina said in his annual address to Congress Saturday, Bloomberg reported. Medina, who’s up for re-election, said the country’s $64 billion economy will again outpace that of Latin America, which the International Monetary Fund projects will see a contraction of 0.3% this year. The Caribbean country grew 7% in 2015, according to its central bank. The country of 10.5 million people, which shares the island of Hispaniola with Haiti, has relied on foreign investments and tourism to grow. In 2013 it set a goal of doubling the number of tourist visits to 10 million within a decade. Already the most-visited destination in the Caribbean, the Dominican Republic will see about $6.5 billion in earnings from its tourism sector this year, Medina said.


Short URL : http://goo.gl/E7TloZ
  1. http://goo.gl/exaVTo
  • http://goo.gl/lR0MaA
  • http://goo.gl/4jBVuY
  • http://goo.gl/MnAMxi
  • http://goo.gl/JI5cTd

You can also read ...

China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...