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Dominican Republic forecast to lead regional growth

According to the World Bank’s Global Economic Prospects, the global growth will increase to 2.7% in 2017. The report states that in Latin America and the Caribbean the recovery will be both fragile and disperse and the larger countries will show the largest growth due to industrial production and exports.

The growth is attributed to a pickup in manufacturing and trade, rising confidence, favorable global financing conditions and stabilizing commodity prices. The Dominican Republic, it projects, will be the leader of the Latin American and Caribbean region.

The World Bank forecasts that growth in advanced economies is expected to accelerate to 1.9 percent in 2017, a benefit to their trading partners. Growth in emerging market and developing economies will recover to 4.1 percent this year, as obstacles to activity diminish in commodity-exporting countries.

Growth in Latin America and the Caribbean is projected to strengthen to 0.8 percent in 2017 as Brazil and Argentina emerge from recession and rising commodity prices support agricultural and energy exporters. In the Caribbean, rising tourism demand underlies an expected acceleration in growth to 3.3 percent in 2017 and 3.8 percent in 2018.

In the case of the Dominican Republic, growth is expected to be 5.3% of GDP in 2017, 5% in 2018 and 4.8% in 2019. The Dominican Republic is forecast to continue to lead the region over the next three years followed by Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominica, Ecuador, El Salvador, Guatemala, Panama, among others.

Source: DR1, Listindiario

June 6, 2017

Category: DR News |

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Last updated January 20, 2018 at 6:48 PM
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