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Wednesday, November 30, 2022

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Bank of America forecasts the DR to grow the most

Within the framework of the annual meetings of the International Monetary Fund and the World Bank recently held in Washington, D.C., the multinational investment Bank of America highlighted that the Dominican economy has maintained a favorable performance, despite a turbulent international scenario, reported the Central Bank of the Dominican Republic (BCRD).

In its report on the prospects for emerging economies, prepared after holding some one hundred meetings with the technical teams of the different countries, the aforementioned financial institution points out that the projections for the world economy continue to deteriorate, associated with lower growth and growing geopolitical tensions.

“In relation to the Dominican Republic, it is stated that the economy has maintained strong growth, offsetting the adverse impact of higher international prices of raw materials, mainly due to the dynamism of tourism, as it is expected that more than 7 million tourists will be received. non-residents during the year 2022”, highlighted the BCRD.

In that sense, “they indicate that the Dominican economy would be one of the fastest growing in the region, even in a context of a possible recession in the United States of America during the next year 2023,” added the Central Bank.

During a meeting held between the Bank of America team, investors and the BCRD delegation, the economic measures that have been adopted were positively valued, which have contributed to moderating inflation and sustaining growth around its potential added the BCRD.

“International analysts and investors continue to perceive the Dominican Republic as an attractive destination for investment due to the strength of its macroeconomic fundamentals, as well as its political and social stability,” he assured.


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