Mission IMF says country’s economy will grow by 4%, suggests prudent fiscal policy

The International Monetary Fund (IMF) projected that the Dominican economy could grow by 4% this year and that inflation would remain within the range of 4% +/- 1%. It believes it is essential to continue with a prudent fiscal policy, anchored by compliance with the fiscal rule and the protection of capital spending.

The international organization projected a closing meeting of its “Staff Visit” led by Ricardo Llaudes, with the governor of the Central Bank (BC), Héctor Valdez Albizu, and representatives of the Ministry of Finance and Economy (MHE).

“Despite the global situation, we continue to see very high income flows, with high levels of exports, tourism, and foreign direct investment (FDI). This will help keep the current account deficit slightly above 1.5%,” Laudes stated.

Meanwhile, Valdez Albizu affirmed that the Central Bank is monitoring the impact of external shocks. He highlighted the resilience of the Dominican economy amid conditions in external markets and agreed that it could grow by 4% this year.

The IMF mission gathered preliminary data from the public and private sectors on the performance of the Dominican economy.