THE DOMINICAN REPUBLIC is enjoying a growth spurt at the moment. Just look at its GDP figures. After four consecutive quarters of negative growth, the economy slowly started growing again in the second quarter of 2004. Since then, each quarter has outperformed the previous one, with the second quarter of 2005 showing year-on-year growth of 7.2%. And the growth isn’t just in export industries: private consumption grew 12.6% in the first half of 2005. Finally, it seems, the Dominican economy is recovering from the crisis of 2003.
“All expectations are being exceeded at the moment,” says Franco Uccelli, a sovereign analyst at Bear Stearns.
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