Tackling the Collapse of Growth

DOMINICAN REPUBLIC - Report 07 Jun 2013 by Pavel Isa Contreras and Fabricio Gomez
Executive SummaryOne of the lowest rates in 10 years, Q1 growth came in far below expectations at just 0.3% y/y. Nearly every field shrank: local manufacturing, construction, commerce, hotels, bars and restaurants, and energy and water. The collapse was the result of falling domestic demand, both due to the recent tax reform, and to the significant fall in public spending in Q1.So the monetary authorities decided to shift course, to stimulate growth and private spending. Inflation was slightly negative in April; the currency stabilized in March; and the foreign exchange market appears relax...

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