Economy October 8, 2019 | 7:44 am

Primary elections can spur an economic slowdown

Santo Domingo.- For the economist Antonio Ciriaco Cruz, the current electoral situation arising from the primary elections of two Dominican political organizations, can hobble the current economic slowdown even further.

“We must not forget that during the first half of 2019 the economy grew 4.7% and the last figure, as of August, the economy only grew 4.8%. With this situation that has been presented post-primary, this creates more uncertainty to the economic situation,” says the vice-dean of the Faculty of Economics of the Autonomous University of Santo Domingo (UASD).

Cruz believes that the post-election process will generate more volatility at the exchange rate and could cause a greater depreciation of the peso.

He added that the Dominican economy runs the risk of growing this year below potential growth (5.0%) and an exchange rate that can exceed RD$53 per US$1.