Santo Domingo.- The Monthly Economic Activity Index (IMAE) in the Dominican Republic experienced an expansion of 4.8% in July, reaching an average year-on-year growth of 5.0% in the first seven months of the year, according to information released on Tuesday by the Central Bank of the Dominican Republic (BCRD).
This performance places the Dominican Republic at the top of Latin America in terms of year-on-year economic growth, according to the latest available data published to date by the nations in the region, as emphasized by the BCRD in a statement.
On the other hand, recent projections by the International Monetary Fund (IMF) place Dominican GDP growth for the current year at 5.1%, figures that coincide with projections by the World Bank, while the estimate by the Economic Commission for Latin America (ECLAC) is 5.2%.
The economy has shown positive behavior “within a framework of price stability derived from the monetary and fiscal policies applied, making it possible to effectively address the risks to the Dominican economy”.
The economic performance reflects the strength of the national productive fabric in the face of the current global context, in which international interest rates have remained relatively high compared to early-year forecasts, the bulletin noted.
This performance is also marked by the dynamics of uncertainty caused by geopolitical conflicts in the Middle East and Eastern Europe, which has generated greater volatility in commodity prices, the issuing entity added.
Meanwhile, the United States, the Dominican Republic’s largest trading partner, “has exhibited encouraging macroeconomic indicators”, with expectations remaining optimistic regarding a potential easing of international financial conditions, in a context of clarity regarding future adjustments in Federal Reserve (FED) policy that are expected not to alter the course of inflation toward its 2% target.
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