The Economist’s grim forecast
The Economist’s 2009 financial forecast for the DR includes some grim predications, including the possibility that that country’s economy (GDP) could contract by 0.8% as external conditions worsen. According to the report, the deceleration of domestic demand will intensify. However, there is expected to be a 2.3% growth in 2010, which will lead to a slow economic recovery. The Economist reports that After dropping sharply in November and December to end 2008 at 4.5%, annual inflation will continue to fall in early 2009, but will end the year at 6.5% as the peso depreciates. Inflation will average 8.6% in 2010. The Economist points out that President Leonel Fernandez’s administration’s ability to meet its macro-economic goals will be limited by a severe economic downturn and structural weakness in the government’s accounts.
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