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Economy / Dominican Republic

Macroeconomic Forecast Dominican Republic

May 2012 | Macroeconomic Forecasts

We are revising up our 2012 foreign reserves forecast for the Dominican Republic from US$3.8bn to US$4.0bn on the back of greater tourism-related revenues and an increase in remittances. Foreign reserves in the first two months of 2012 increased by 12.9% compared to the same period last year. Tourist arrivals in Q112 increased by 7.9% y-o-y, and while global growth will remain sluggish this year, we expect tourism to continue to slowly recover. Also, remittances increased by 6.7% in 2011, we expect them to continue to grow as the US economy gradually picks up and Dominicans abroad can afford to

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