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Economy / Dominican Republic

Dominican Republic

May 2012 | Risk Summary

Last month we highlighted risks regarding Dominican Republic's fiscal budget trajectory, and recently the country's ex-minister of finance, Fernando Alvarez Bogaert, publically voiced his own worries over the country's fiscal deficit. While the deficit has declined from 4.0% of GDP in 2008 to 2.4% of GDP in 2011, an increase in spending fueled by the elections this year could reverse some of the improvements made to the fiscal books of the country. Additionally, as noted by Alvarez Bogaert, servicing external debt is particularly burdening for the country, draining around 38% of all fiscal revenues, and this figure will likely go higher if fiscal discipline is not implemented.

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