Standard & Poor’s, one of the top U.S. financial services company, recently awarded the Dominican economic very good grades (BB-/B in the short and long term), and projects that in the next few years the country’s economic growth will be higher than many of the countries in the region.
“Growth in the Dominican Republic has kept itself above its peer countries, and its current account deficit and foreign debt have declined, due to the drop in the price of oil and an increase in the number of tourists,” reveals the company on the positive outlook of the Dominican economy during a recently published May 2016 report.
The report states that the Dominican economy has grown rapidly and without imbalances. At the same time, policymakers have worked on improving the country’s monetary and fiscal policies.
“Along with our projections, the GDP per capita growth in the Dominican Republic is, on average, above that of its peers that have similar levels of economic development. We forecast that the GDP will grow by 5% between 2016 and 2018, following a growth of 7.3% in 2014 and 7% in 2015, which were the highest in the region.”