Puerto Rico, Dom Rep sign economic deal
SAN JUAN, Puerto Rico – Puerto Rico and the Dominican Republic have signed an economic agreement to help boost sectors including agriculture, education and housing.
Puerto Rico’s secretary of state says the deal seeks in part to provide training to farmers, increase literacy rates and develop affordable housing. David Bernier said yesterday that government officials also seek to jointly buy natural gas by 2015 to obtain more favorable prices and to reduce their dependence on petroleum.
The announcement comes after a delegation of Puerto Rican officials visited the neighboring Dominican Republic.
Puerto Rico is emerging from a six-year recession and still has an unemployment rate higher than any US state at 14 per cent. The island also is trying to reduce its US$69 billion public debt and a US$1.2 billion deficit.
Dominican Republic has the Caribbean’s largest economy. Economic growth is projected to slow to about three per cent in 2013, from 3.9 per cent last year.