Central Bank set the budget deficit at 2.8% of GDP, 0.5 points above target

DOMINICAN REPUBLIC - In Brief 19 Apr 2017 by Pavel Isa
The Central Bank has released its preliminary report of the performance of the economy of the Dominican Republic in 2016. Although figures for aggregate GDP growth, employment, inflation, external accounts and monetary aggregates are not different from what it has been made public before, the bank reports that the deficit of the Central Government reached an equivalent of 2.8% of GDP, 0.5 percentage points above the budget target. Total financing reached DOP 93.8 bn, almost 24% more than the amount approved in the budget law. We’ll have to wait for the official figures from the Budget Directorate (Ministry of Finance), and they may differ from that released by the Central Bank. It’s even possible that they claim, once again, that were right on target. However, as we consistently warned along H2, we think the budget deficit closed above the goal and Central Bank figure looks about right.

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