The Dominican economy grow 4.5 percent this year, according to a preliminary report presented yesterday by Economic Commission for Latin America and the Caribbean (Cepal) executive secretariat , Alicia Bárcena, which also projects a 1.5 percent growth for 2009.
It also predicts an annual inflation of 7 percent and the deficits of the non financial public sector and the current account would be 3.2 percent and 12.6 percent of the Gross Domestic Product (PIB), respectively.
The Cepal estimates an accelerated increase of the public cost in 2008, with an annual expansion of 18.6% in real terms. It adds that its level in proportion of the GDP will reach 20.3 percent, an increase of three percentage points compared with last year, which means a strong turn in the Dominican fiscal situation.
The report considered that Latin America’s and the Caribbean’s growth for 2009 will be 1.9 percent and the unemployment rate will rise from 7.5 percent this year to a range of 7.8 and 8.1%, as a result of the international crisis.
According to the preliminary overview of the Latin American and Caribbean economies, the cycle of economic bonanza comes to an end in 2008, when the region posts six years of consecutive growth.
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