2022 has ended with the Dominican economy with good growth, record figures in tourist arrivals, job recovery, good flows in exports, in the net foreign exchange reserves of the Central Bank, the receipt of remittances and foreign direct investment.
The Central Bank expects hard currency inflows to surpass US$39 billion by the end of the year, contributing to the relative stability of the exchange rate. In 2022 the national currency appreciated 4.2%.
The Central Bank highlights that international reserves are more than US$13.7 billion, 12.1% of the Gross Domestic Product (GDP) and equivalent to about 5.7 months of imports, beyond the level recommended by the International Monetary Fund (IMF).
Remittances are expected to end near US$10 billion. In November 2022, in particular, remittances totaled US$787.0 million, registering, for the second consecutive month, a slight year-on-year increase of 0.1%, and with respect to the same month of 2019, the year before the pandemic, the growth is 27%.
Exports will reach record figures of around US$14 billion. Tourism revenues are estimated to be more than US$8.6 billion.
Likewise, it was a good year for foreign direct investment that in 2022 is exceeding US$3.8 billion.
The Central Bank reports a 0.47% variation in the Consumer Price Index was 0.47 % in November 2022 compared to the previous month. Accumulated inflation for January to November 2022 is now at 6.80%. The Central Bank expects the year to close with inflation at around 7.2%.
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N Digital
21 December 2022