1945

For the fourth consecutive year, the Dominican Republic experienced robust economic growth (8.3%). In fact, its growth rate was a record high for the decade and one of the highest in the entire region. Shored up by abundant inflows of foreign investment and external credit, higher remittances from family members living abroad and higher levels of employment and real income, domestic demand remained buoyant and exports of goods and services continued to expand. Agricultural production recovered fully from the damage caused by Hurricane Georges in September 1998. The macroeconomic climate was relatively stable, there was a small fiscal deficit, the December-December variation in the exchange rate was lower than the economy ’ s declining rate of inflation, and interest rates decreased slightly.

Related Subject(s): Economic and Social Development
Countries: Dominican Republic
/content/books/9789210582957s003-c018
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