Economic growth in April: 10.1%!

DOMINICAN REPUBLIC - In Brief 05 Jun 2016 by Pavel Isa
Last week, the Central Bank announced that the Monthly Indicator of Economic Activity (IMAE, for its Spanish acronym) for the month of April registered a 10.1% expansion in economic activity. This is an impressive figure, with few precedents. Also IMAE results for March registered a growth of 7.2%. Both figures suggest an extraordinary economic expansion during the first four months of the year, well above what would be the potential growth rate. A very active public investment associated with elections appear to explain this performance. No inflationary pressures are in sight due to a favorable international environment associated with the low oil prices. The limit is set by fiscal constraints, and are likely to appear soon, forcing to a contraction in public investment for the rest of the year. This will surely contribute to slower growth for the rest of the year.

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