LatinNews Daily - 30 August 2022

In brief: Dominican central bank hails growth

* The Dominican Republic’s central bank (BCRD) has released new figures which show that the monthly index of economic activity (IMAE) averaged 5.5% in the January-July 2022 period compared with the same period in 2021. The same figures show a year-on-year increase of 4.7% in July. The BCRD’s report highlights that growth was driven by services, which averaged a 7.6% increase in economic activity in the first seven months of the year, followed by manufacturing in free zones (7.2%), local manufacturing (4.3%), and agriculture (2.9%). The latest (23 August) forecast from the United Nations Economic Commission for Latin America and the Caribbean (Eclac) expects the Dominican Republic’s GDP to grow 5.3% in 2022, second only to Panama (7.0%) in Central America, and well above the 2.7% average forecast for Latin America & the Caribbean.

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