New Budget, Same Old Problems

DOMINICAN REPUBLIC - Report 15 Oct 2013 by Pavel Isa Contreras and Fabricio Gomez
Executive SummaryAggressive tightening in September produced the desired result: interest rates stopped falling, the weakening currency rebounded to early August levels and inflation stopped accelerating. (September inflation was 0.49%; accumulated 2013 inflation through September was 3.57% and y/y inflation was 5.13%, falling below the 6% upper boundary of the government’s inflation- targeting scheme.)Capital spending accelerated powerfully in September, to DOP 10.3 billion. That’s a change from the weak public investment spending of previous months, and means public investment has acceler...

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