Robust Growth, without Fiscal Surprises

DOMINICAN REPUBLIC - Report 19 Aug 2014 by Pavel Isa Contreras and Fabricio Gomez
Executive Summary GDP growth rose an impressive 5.2% in H1, according to new Central Bank data, the largest expansion for a single semester since 2010. Accumulated inflation reached 1.93%, while y/y inflation was 3.41%, well below the lower limit of the Central Bank’s 2014 target range (4.5% ± 1%). The current account deficit, at $772 million, was flat on H1 2013. Revenues from tourism and remittances expanded noticeably, likely due to the limited global economic recovery, especially in the United States. The budget deficit was DOP 15.2 billion in H1, only 21% of the deficit projected for t...

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