Dominican economy grows 6.1% in Q1, paced by mining

Santo Domingo.- Dominican Republic’s Central Bank on Thursdaysaid the country’s economy grew 6.1% in the first quarter, and that 173,402 jobswere added since April, 2015.

“The unemployment rate fell from 6.0% to 5.7% with negativeinflation of 0.58%, in January to March, with a stable exchange rate, and the maindynamic generators of foreign exchange and foreign investment strengthened, andwith a solvent financial system,” the Central Bank said on its website.

It said preliminary results of GDP in real terms show a “notablegrowth of 6.1% from January to March 2016, following growth of 7.0% posted atthe end of 2015, reflecting the country continues to grow above its potential,”it said, noting that the figures “reflect a leadership in Latin America and theCaribbean.”

The Central Bank reports growth paced by mining (33.8%), health(0.6%), construction (8.8%), hotels, bars and restaurants (6.4%), education(6.3%) and energy (6.2),among other areas. “The high annual growth exhibited in the mining activity inthe first quarter is explained by the resumption of mining operations of goldand silver ores, which were virtually paralyzed during the same quarter lastyear.”