Former Central Bank governor Pedro Silverio comments that the significant drop in oil prices will have a positive impact on the Dominican economy and its balance of payments. He also highlighted that 2015 is a pre-electoral year, meaning that growth should be greater than originally forecast as political campaign money floods the economy.
The Central Bank has forecast a growth rate of 4.5-5% GDP for the coming year, below the 7.2% growth the country experienced through September 2014. Inflation for next year is forecast at around 4%, lower than the 4.5% expected for year’s end.
Silverio is vice rector for postgraduate studies at the PUCMM, the DR’s largest private university. He has observed that on the downside, despite continued growth over the years, the country has not advanced in the World Economic Forum Global Competitiveness ranking. He pointed to the country’s weak institutions and lack of quality jobs and criticized the lack of vision that guides the economy toward achieving its long-term development goals.
http://www.diariolibre.com/dialogolibre/2014/12/29/i944811_2014-del-montn-que-avanza-metas.html