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Revenues up, Central Bank reports economic growth has returned
posted on: Apr 8 2010 10:17 by Royston. Viewed 326 times.
The Dominican Central Bank (Banco Central) Governor, Hector Valdez Albizu, reported yesterday, Wednesday, that according to the Monthly Economic Activity Index (IMAE) during the first two months of this year, the Dominican economy grew by 6.0%, which, he claimed, proves that we are back on the path of growth with stability.
The Central Bank governor noted that in the first two months of this year the economic activities that contributed most to economic growth, were tourism, which grew more than 4%, and the construction industry.
He said that in the first three months of the year inflation was only 2.12%, which was within the target for 2010 not to exceed 6.0%.
He said that currently hotels and other tourist facilities are full, and new hotel facilities are being created including the construction of 4 new hotels in the east.
Valdez Albizu added that all this, taken with foreign investment in other fields, means that the Dominican Republic is being seen as one of the best destinations in the area for foreign investors.
In a similarly upbeat message, the Director General of Internal Taxes (DGII) reported that revenues for the month of March were up 5.5% over the same period last year, amounting to RD$15,934.7 million, achieving 102.1% of the target set in the National Budget l, with a surplus of RD$333.8 million.
The report also revealed that the accumulated revenue from January to March was RD$45,093.6 million, a growth of 6.6% over the same period last year.
This recovery has been most evident in the performance shown by sales reported under ITBIS sales tax. with a total sales growth of 12.4%, This represents a 7.1% growth in taxable transactions, the first time we have seen a rise since last year
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