Data from the Central Bank of the Dominican Republic shows year-on-year economic growth of 4.6 % in July, thanks to strengthened monetary and fiscal policies, as well as key sectors of national industry.

According to the central bank, this economic growth was bolstered by “sectors such as financial services, construction, free zone manufacturing, and the hotel, bar, and restaurant market.”

Other factors that also contributed to the Central American country’s economy included education, “transport and storage, professional services, agriculture, and energy and water.” Mining, however, contracted by 15.9 % due to a decrease in gold and silver extraction volumes.

Regarding the year-on-year growth of financial activities, insurance, and related activities in July, the regulatory body indicated that it was due to the “8 % expansion of credit directed to the private sector and the increase in fees charged by financial institutions.”

M.Pino

Source: bancaynegocios

(Reference image source: Carlos Cruz on Unsplash)

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