LatinNews Daily - 17 January 2023

In brief: Dominican central bank highlights strong growth

*The Dominican Republic’s central bank (BCRD) has released a new report in which it forecast that GDP growth for 2022 would come in at 5.0%, driven by private consumption and the strong performance of the external sector. The BCRD expects this to drop to 4.5% in 2023 citing a decline in global demand. According to the same report, exports are expected to exceed US$14bn at the close of 2022 while remittances are expected to come in at US$9.8bn and foreign direct investment (FDI) at US$3.8bn. It adds that tourism revenue is expected to come in at US$8.6bn while imports are forecast at US$30.9bn. As regards inflation the BCRD forecasts that annual inflation will close 2022 at 7.5% far beyond the target of 4.0% +/-1 although it expects this to drop to 4.5% in 2023.

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