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IMF: Dominican economy will grow 2% this year, 1Q was 0.3%

Santo Domingo.- The International Monetary Fund’s (IMF) technical team which visited the country this week as part of the post-monitoring program reiterated  that the Dominican economy will grow 2% this year.

“A gradual recovery of the real GDP growth is expected for the rest of 2013 at an annual rate of 2 percent and reach 3.6 percent in 2014,” says a statement the from the IMF team led by Przemek Gajdeczka.

It also notes that the recent increase in international reserves, the preliminary agreement to modify taxes on gold exports and lower fiscal deficits have reduced short-term vulnerability.

“Significant risks that may arise in the global environment, such as external shocks that could hurt trade and the number of tourists, gold exports could fall, or the recent capital flows could be reversed,” the statement quoted by says.

The statement by the IMF delegation adds that first quarter growth was 0.3%, after rising nearly 4 percent in each of the four quarters in 2012, on taxes and weak private sector confidence.

Source: DT

Category: DR News |

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Last updated October 22, 2016 at 2:00 PM
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