The local representative of the Inter American Development Bank (IDB), Moises Pineda, highlighted the Dominican Republic’s capacity for economic recovery, saying that this is something that is lacking in other countries, and stated that the GNP is expected to close this year with a growth rate of 4%. Listin Diario reports that Pineda stated that the country’s economy has its strengths and weaknesses. Among the strengths is its strategic location and closeness to the US, a dynamic business sector, and thriving small and medium businesses. The nation’s main weaknesses are the cost of petroleum due to fluctuations in the international market, the electric deficit, social inequality and institutional deficiencies. He said the DR-CAFTA agreement is an opportunity to put inexpensive products in the hands of consumers. He also spoke of the tax reform. Pineda explained that the IDB, together with the International Monetary Fund (IMF) and the World Bank (WB) works on the diagnosis of the economy which they revise quarterly. He stated that the economy has reached the stability expected by President Fernandez and has to be reinforced because of its risks and vulnerabilities.