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In 1999 the Dominican Republic continued its miracle growth rate of 83 This was one of the worlds highest growth rates in 1999 In the previous 4 years before the growth rate of the Dominican Republic was on average a little over 7 The Dominican Republic now leads the world in economic growth Who would have thought this possibleIn the late 80s and 1990 the GDP fell by up to 5 and price inflation reached 100 After this period the Dominican Republic entered a new stage of development It became a period of moderate growth and declining inflation In 1995 inflation was reported at 9 while GDP grew by 45 A year later the inflation rates dropped 5 and the GDP grew to about 73 The capital used to be a slow town but has since turned into a metropolis with many new middle-class suburbs Large sport utility vehicles extensive housing and construction projects and a consumer-oriented middle class are all visible signs of new wealth Fueling this growth are tourism contributions telecommunications construction the free-zone assembly plants and many services The Dominican Republic had been a sugar economy and society with sugar dominating the export economy by 80 Sugar has dropped to less than 5 of the GNP New investments are coming into the country on a daily basis The economic quickening affects the entire country more money is circulating and jobs are being created at an uncommon level There is more activity energy and movement in the Dominican economy and society than ever before in the nations history This in combination with low inflation has reduced the poverty level in the Dominican Republic Unemployment levels are down significantly and real wages are up Minimum wages are up more than average wages The per capita income is estimated at about 1500 per year and a large part of the population works at the minimum wage level which is about 100-125 per month The unemployment
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