The governor of the Central Bank, Héctor Valdez Albizu, estimated that by the end of this year foreign direct investment will be around US $ 3,500 to US $ 4,000 million, which would cover the current account deficit, which should be between -3.0% and 3.5% of the Gross Domestic Product.
The official made the statement during a meeting with executives of the National Private Enterprise Council (Conep), where he spoke about the economic situation and future prospects for the Dominican Republic.
Valdez Albizu highlighted the admiration other countries in the region and international organizations have for the economic, macroeconomic and fiscal performance of the country, which has become a point of reference and consultation for institutions interested in applying the measures executed here.
Acknowledging private sector role
Valdez Albizu went on to praise the role of the Dominican private sector, which he says today contributes more than 85% to national growth.
After presenting a comparison with the other Latin American nations, the official also presented the most recent data on the country’s economic performance to the directors of Conep, to show the strength of the fundamentals mirrored in the national performance.
“That is why we are a focal point for foreign direct investment, especially in the tourism sector, which has attracted around 30% of this type of investment in recent years,” he said.
Conep highlights recovery
The commission was headed by its president, Pedro Brache, who stressed that attracting foreign direct investment, tourism, the balanced and sustained value of currency, remittances and free zones, are only some of the elements that strengthen the country’s stamina and resilience.
The business executive said that these conditions are what allow the Dominican Republic to have a very favorable outlook, despite the turbulent climate abroad.
Meanwhile, Conep board member Christopher Paniagua highlighted the commitment of multiple banks in helping consolidate an inclusive sustainable economy, a goal he believes the Central Bank helps raise.
Source:
Hoy