Fitch improves rating for DR
International risk assessment firm Fitch Ratings predicts that real economic growth in the Dominican Republic will be 6.2% in 2014 and 5% in 2015-2016. The global financing rating agency also highlights that the 2015 budget will show a reduction in the deficit of 2.4% for the first time since 2007.
Fitch reports that the country is well placed to make the most of the economic recovery in the United States. The DR will benefit through increases in exports, remittances and incoming tourists.
According to Fitch, the reduction in fuel prices, the increase in gold production and increases in tourism should lead to a further reduction in the deficit to 3.3% of GDP in 2014-2016 compared to an average 6.8% in 2007-2012.
Fitch highlighted that they have now raised the Dominican Republic's rating to B+ from B saying that the country has proved itself able to recover even in difficult economic times and has a diversified structure based on a competitive business climate and medium term investments.
Fitch prev? econom?a RD crecer? 6.2% en 2014 -