Santo Domingo.- The Dominican Republic has had a good 2016, with expected GDP growth between 6.4 and 6.5%, Administrative minister José Ramón Peralta affirmed Wednesday, in a meeting with economy editors of several newspapers.
"Between January and September 2012, total retail sales totaled RD$377.1 billion (US$8.2 billion), in the same period of 2016 reached RD$626.2 billion, for an unprecedented increase of RD$249.0 billion in just four years, equivalent to 66%," the official said.
He said sales in industries, excluding oil refining, have jumped from RD$406.6 billion in January-September 2012, to RD$579.0 billion in the same period this year, an increase of RD$163.4 billion, or 40%.
The official said the economy's expansion has been spurred by the fiscal consolidation program adopted by president Danilo Medina's administration since he took office last August 16. "By reducing the deficit of the consolidated public sector, it has been able to decrease the participation of the public sector in the credit demand of the banking system."