Dominican Economy Ends The Year With A 5% Growth

• The Central Bank of the Dominican Republic reported that the monthly indicator of economic activity (IMAE) registered an accumulated growth of 5.0% in January- November 2022 when compared to the same period the previous year, after incorporating the interannual variations of 3.8% in October and 2.9% in November of the current year.
• The Dominican economy’s trend throughout the year reflects a moderation in its growth rate in recent months, as increases of 6.1%, 5.1%, and 5.0% were recorded in the first three quarters of the year, respectively.
• The slowdown in domestic demand, primarily from the investment component, is due to high raw material and construction material costs, as well as the operation of the monetary policy transmission mechanism aimed at reducing inflationary pressures.
• In this regard, the results of the Central Bank forecast system indicate that actual gross domestic product (GDP) growth will be around 5.0% by the end of 2022. In terms of nominal GDP, it is expected to reach approximately US$113Bn, contributing to the consolidated public sector debt falling below 60% of GDP by the end of the current fiscal year.

(Source: Caribbean News Now)