The Ministry of Economy, Planning and Development (Mepyd) reported that the Dominican economy is expected to grow 5.0% in 2022, a forecast that remains unchanged with respect to the Macroeconomic Outlook of last June.
The information is contained in the Macroeconomic Framework 2022-2026 published by the Vice Ministry of Economic and Social Analysis, which indicates that during the first seven months of the year, the Dominican economy registered a solid economic growth.
It cites that in July, the monthly indicator of economic activity (IMAE) grew by 4.7% year-on-year, for an accumulated growth of 5.5% during the period January-July 2022.
8.0%
Inflation is expected to be at the end of the year, according to the document published by the Mepyd
The Macroeconomic Outlook of August of this year constitutes an effort by the teams of the Ministry of EconomyPlanning and Development, Central Bank of the Dominican Republic and Ministry of Finance, to provide decision makers with updated projections for medium-term economic planning.
“The behavior of the economy reaffirms the resilience and capacity of the country to face a less favorable and uncertain global context, the result of geopolitical conflicts, the persistence of inflationary pressures, the expectations of a recession in the US economy and the current drought and waves of heat that threaten the already resentful Chinese economy”, the publication points out.
It emphasizes that the performance of the IMAE for the first seven months of the year is due to the dynamism observed mainly in the services and industry sectors. He points out that particularly, the activity Hotels, bars and restaurants continued to drive the growth of the economy, with a growth of 32.9% during this period.
“This behavior is consistent with the measures promoted by the Tourism Cabinet and the arrival of 4,282,207 non-resident passengers in the country, equivalent to a year-on-year expansion of 74.0%,” it indicates.
The document specifies that external inflationary pressures, although they have moderated in recent months, continue to affect the behavior of local prices. he
