Dominican Central Bank Backs 4.5% Growth
The Dominican central bank confirmed a 4.5% growth forecast for 2026 after 4.6% growth in nine months, with tourism and remittances in focus. The post Dominican Central Bank Backs 4.5% Growth appeared first on The Rio Times .
The Banco Central de la República Dominicana (BCRD) has reaffirmed its forecast for the Dominican Republic's economy to expand by 4.5% this year. Governor Héctor Valdez Albizu shared this outlook during a visit by the International Monetary Fund (IMF) mission. This growth projection is significant given the island's status as a major tourist destination and recipient of remittances from Dominicans living abroad.
Both tourism and remittances are key factors driving the anticipated economic growth. In the first nine months of 2026, the economy grew by 4.6%, with the monthly economic activity index (IMAE) showing a 5.6% increase in September 2026 compared to the same month in 2025. The BCRD attributes this growth to the steady inflow of remittances, projected at around US$12.6 billion for 2026, and tourism income, expected to reach about US$12.2 billion.
The peso, the local currency, is currently trading near 60.5 to the US dollar. The central bank's assessment aligns with a recent rating upgrade by Fitch Ratings, which has raised the country's sovereign credit rating from BB- to BB, though the rating remains below investment grade.
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