Dominican government works spur 12% growth

Dominican government works spur 12% growth
Published: 17 March 2010

Cement consumption in the Dominican Republic increased from 429,500t to 482,664t in January and February compared with the same two months a year ago, translating into a 12.4% rise.

The figures appear in Cementando, a publication of the Dominican cement plants grouped in Adocem, whose executive director is Julissa Báez.

The rise in consumption stems mostly form public works such as roads to interlink cities nationwide.

Since yearend 2009 and the start of this year the monetary measures adopted have spurred growth in public and private construction, including a 16.7% climb in private financing for construction and 19.6 % in housing sales.

Last year’s cement consumption was 2.9Mt, with expected growth as high as 5% this year driven by the new expectations in the economy and a significant inflow of funds from the public sector, including the International Monetary Fund, focused mainly on the real estate and construction sectors.