Domin. Rep. Economic Outlook
April 9, 2019The economy has begun the year in impressive fashion. Economic activity growth was robust in January and February, supported by a dynamic construction sector and ample credit provision. Moreover, tourist arrivals grew strongly in the same period, driven in part by strong labor market conditions in the U.S. In addition, remittances were healthy in January and February, which, coupled with muted price pressures, should have stoked private consumption. In a recent staff visit, the IMF praised the strong growth momentum and recent monetary and financial market reforms. However, the Fund encouraged the government to strengthen the fiscal position and the electricity sector, which remains a drag on the economy in the absence of the signing of the electricity pact. In March, the government announced a plan to cut red tape, which should boost economic competitiveness.
Dominican Republic Economic GrowthGrowth will ebb this year due to a tough base effect and easing momentum in the U.S. However, the expansion should still be notably above the regional average, underpinned by strong credit supply and a healthy labor market. Downside risks stem from a fragile fiscal position, volatile oil prices and a possible faster-than-expected economic slowdown in the U.S. FocusEconomics panelists expect GDP growth of 5.2% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, panelists see the economy expanding 4.6%.
Dominican Republic Economy Data
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Dominican Republic Economic News
March 28, 2019
The Dominican Republic’s economy continued to expand at an elevated pace in the first two months of 2019, although year-on-year growth was down somewhat from the rates observed last year, due to a less favorable base effect.
March 13, 2019
Consumer prices rose 0.37% in February over the prior month, contrasting January’s 0.17% decline.
February 28, 2019
Consumer prices fell 0.17% in January over the prior month, following December’s 0.22% month-on-month decline.
January 8, 2019
Consumer prices fell 0.22% in December over the prior month, coming after November’s 0.35% month-on-month decline.
December 27, 2018
According to a preliminary estimate released by the Central Bank on 27 December, the economy expanded 7.1% in annual terms in the fourth quarter.