Central Bank: Economy at its best; Jan.-April growth at 7.1%, EFE reports

Santo Domingo.- Dominican Republic Central banker HectorValdez Albizu, on Wednesday said the country’s economy is at its best, with 7.1%growth between January and April, EFE reports.

The Central Bank’s report highlights "a robust year with10.1% growth in April,".

In a statement, Valdez said all sectors posted annualgrowth, including construction (36.2), financial services (13.3%), localmanufacturing (11.7%), retail (11.1%) “and the recovery of the agriculturalsector (6.0%),” among others.

Accumulated inflation in the first four months was -0.67%, thereport says, while annual underlying inflation, which is related to monetaryconditions, stood at 1.51% at the end of April.

It said credit to the private sector grew around 13.8% inMay and is expected to expand at a rate close to 12.0% at year end.

“On fiscal policy, the government is expected to meet thebudget deficit forecast for the end of the year around 2.3% of GDP,” theofficial said.

On Wednesday the Central Bank said it will maintain itsbenchmark rate at 5.0% per year, as agreed at its meeting in May.