Domin. Rep. Economic Outlook
February 13, 2018A looser monetary stance and robust fiscal support were instrumental drivers of the economy’s solid performance in the fourth quarter. Annual GDP growth accelerated from 3.0% in Q3 to 6.5% in Q4 as increased liquidity and cheaper credit fueled stronger capital outlays and private spending growth. Solid remittance inflows and a recovery in tourism operations following hurricane-induced disruptions in late Q3 also likely contributed strongly to the reading. Increased government support was particularly noticeable in the construction sector, where activity expanded an impressive 15.3% in Q4 following a 5.4% increase in Q3. Meanwhile, the external sector closed the year on a strong note, with the current account deficit shrinking to its smallest in 13 years last year amid healthy growth in FDI, remittances and tourism revenues. Upbeat developments in the balance of payments led the Central Bank to raise international reserves last year to the highest figure on record.
Dominican Republic Economic GrowthThe economy will likely grow at a largely steady clip this year due to monetary stimulus and solid remittance inflows. That said, faster fixed investment and private consumption growth should support import growth, weighing on GDP figures. Government spending growth is expected to moderate this year as authorities commit to fiscal prudence. FocusEconomics panelists expect GDP growth of 4.5% in 2018, which is unchanged from last month’s forecast. For 2019, panelists see the economy expanding 4.4%.
Dominican Republic Economy Data
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Dominican Republic Facts
|Exchange Rate||49.02||0.80 %||Feb 14|
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Dominican Republic Economic News
January 30, 2018
A first estimate released by the Central Bank on 30 January shows the economy gathered momentum in the fourth quarter, following a lackluster performance in the two previous quarters.
January 5, 2018
Comprehensive data from the Central Bank showed the economic recovery was knocked off course in the third quarter on the back of disruptions caused by Hurricanes Irma and María in September.
December 11, 2017
Consumer prices rose 0.76% from the previous month in November, contrasting a flat reading in October.
October 31, 2017
Economic activity increased 3.7% in August from the same month a year earlier, according to the Central Bank’s monthly indicator for economic activity (IMAE, Indicador Mensual de Actividad Económica).
October 10, 2017
Consumer prices increased 0.64% in September compared to the previous month, which was above August’s 0.57% month-on-month increase and the highest rise in nine months.