Economy June 20, 2016 | 12:15 pm

Dominican economy to grow 7%: Central banker

Santo Domingo.- Central banker Hector Valdez Albizu on Mondaysaid Dominican Republic’s economy grew 7.1% in the first four months, propelledby a 10.1% growth in April.

He said agro grew 6%, livestock 11.7%, construction 36.2% andfinancial intermediation 3%.

"The trend cycle indicates that growth in 2016 could closeat around 7%," the official in a meeting with Commercial Banks Association(ABA) and Savings and Loans Association executives, to review the economy’s performancein the first quarter.

He said the banks and S&Ls should make available theRD$5.35 billion pending disbursement, from the RD$10.0 billion the MonetaryBoard authorized to finance low-cost housing on March 26, 2015. "Withthis, we will continue working for poor people to acquire decent housing."

Liquidity

Valdez also described the financial system’s performance asexcellent, stressing the banks’ current liquidity of more than RD$21.0 billion,“showing solvency indicators of 15.46%, well above the required by the Monetaryand Financial Law."

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