Domin. Rep. Economic Outlook
February 12, 2019Economic momentum likely remains robust so far in 2019, although hard data is still limited. Muted price pressures and healthy private-sector credit growth—which clocked roughly 11% in January according to the Central Bank—should be supporting private consumption. This comes after the economy surged in Q4 2018 thanks to the construction and services sectors, with construction supported by projects in the private residential housing, tourism and energy sectors. In 2018 as a whole, the economy was the star performer in the CENAM region, benefiting from a solid labor market and the expansion in the U.S., which fueled exports, remittances and tourism revenue.
Dominican Republic Economic GrowthGrowth should ebb this year due to a tough base effect and a slower expansion in the United States. However, strong fixed investment and private consumption should support the economy, which will continue to grow significantly faster than the regional average. Downside risks are primarily external, and the economy is vulnerable to higher oil prices and a faster-than-expected global economic slowdown. Moreover, the country is exposed to extreme weather events. Met the why particular panelists expect GDP growth of 5.1% in 2019, which is up 0.1 percentage points from last month’s forecast. For 2020, panelists see the economy expanding 4.6%.
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|Exchange Rate||50.48||0.80 %||Feb 14|
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Dominican Republic Economic News
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.
October 23, 2018
According to a preliminary estimate released by the Central Bank on 23 October, the economy expanded 7.3% in annual terms in the third quarter.
October 12, 2018
Consumer prices rose 0.08% in September over the prior month, up from August’s 0.03% rise.
October 4, 2018
On 28 September, the government presented its 2019 budget to congress, and parliamentary approval should not be too difficult given the government’s absolute majority in both chambers.