Weekly Report - 30 May 2024 (WR-24-21)

DOMINICAN REPUBLIC | Buoyant growth. The Dominican economy expanded by 7.8% in April, the fastest monthly growth of the year so far, the central bank (BCRD) revealed on 23 May. The economy grew by an average of 5.1% in the first four months of the year. In its most recent report, the International Monetary Fund (IMF) predicted that the economy would grow by 5.4% in 2024, higher than Eclac which forecast annual growth of 4.5%. The big drivers of year-on-year growth in the first four months of 2024 were the hotels, bars, and restaurants sector, which expanded by 9.5%, financial services (7.1%), construction (6.4%), real estate activities (6.1%), and free zones (6%).