Dominican Republic grows 6.7% in first 9 months, paced by construction

Santo Domingo.- Centralbanker Hector Valdez Albizu on Friday announced GDP growth of 6.7% in the firstnine months this year, boosted by 7.1% jump in the third quarter.

He said the economy grewdespite a -5.3% decline in agriculture, as a result o the country´s extended drought.

"With thisresult Dominican Republic beats Bolivia (4.7%), Panama (4.0%), Guatemala(4.0%), Nicaragua (3.5%) and other countries, which are growing below 3.0%,"the official said in a speech to mark the Central Bank´s 68th anniversary.

Valdez said if thepace of growth from July to September continues the Dominican economy could endup growing 6.7% at year end, “possibly the fastest growing in Latin America, andforecast a growth near its potential next year.

He said public andprivate construction (17.8%), which has grown steadily in double digits foreight consecutive quarters and retail (9.0%) had the most impact on theeconomy.