Santo Domingo.– The increase in bank credit to the private sector helped reactivate the Dominican economy, which will grow this year by around 3.5%, the Central Bank reported.

Due to a strong correlation between the private credit and the GDP growth, the Dominican economy has experienced an important recovery, mainly in 2009’s second quarter, according to the report.

The Central Bank pointed out that the growth has become one of the highest growth rates in Latin America this year and has been progressively larger: 1% in the first quarter, 1.8% in the second quarter, 3.4% in the third, with an overall 2.1% for the first three-quarters.

The entity also said the international reserves will close at record highs, the current account in the balance of payments will have an improvement in its deficit of 4.5% of GSP, lower than the 9.7 of 2008 by 5.2%.

Such achievements, the Central Bank stated, will be reached without risking the goals of keeping inflation in check –the major goal of the monetary policy–, which will help keep the relative stability in the exchange rate for 2010.