Fiscal Balance in Dominican Republic
Dominican Republic - Fiscal BalanceThe economy appeared to begin the fourth quarter on a solid footing. Private-sector credit growth clocked 11% in October, spurred by significant recent monetary easing in the form of rate cuts and liquidity injections, which should have bolstered domestic demand. Moreover, remittances surged in the same month amid a strong U.S. labor market, likely supporting domestic private consumption. Less positively, however, recent bad press linked to visitor deaths continued to weigh on the vital tourism sector—which is worth close to 10% of GDP and represents an important source of foreign currency—as tourist arrivals plummeted in October. This comes after growth rebounded in the third quarter amid strong expansions in credit and remittances.
Dominican Republic - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-4.0||-3.7||-0.3||-2.9||-3.3|
5 years of economic forecasts for more than 30 economic indicators.
Dominican Republic Facts
|Exchange Rate||52.96||0.80 %||Jan 01|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
January 9, 2020
Consumer prices rose 0.20% in December over the prior month, down from November’s 0.37% rise.
December 30, 2019
The economy expanded 5.5% in November according to Central bank data, up slightly from October’s 5.2% expansion, with the economy continuing to benefit from significant monetary stimulus earlier in 2019—which has fed through to faster credit growth. November’s expansion was driven by construction, financial services, and manufacturing in free trade zones, although weak tourist arrivals hurt the hotels, bars and restaurants sector, restraining the overall expansion somewhat. Turning to 2020, our panelists expect growth to ebb slightly on slower momentum in the U.S., the Dominican Republic’s key trading partner.
December 27, 2019
At its 27 December monetary policy meeting, the Central Bank (BCRD) left the policy rate unchanged at 4.50% for the fourth straight month, following 100 basis points of easing in June–August to boost economic activity.
December 11, 2019
Consumer prices rose 0.37% in November over the prior month, down from October’s 0.67% increase.
November 30, 2019
The economy expanded 5.2% in October according to Central bank data, up slightly from September’s 5.1% growth. While a breakdown by sectors is unavailable, the Central Bank’s recent monetary easing—in the form of 100 basis points of rate cuts since June and a DOP 34 billion liquidity injection—supported credit provision and was likely an important driver behind October’s reading. Looking ahead, monetary stimulus measures should continue to feed through to the economy in coming months, aiding consumption and investment.