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tral de la República Dominicana in- gión continúe con un crecimiento sion. This growth in the United States has been
dica que, no obstante, aún persisten moderado en torno a 2.2% para este driven by the dynamism of the private consump-
altas tasas de desempleo en la Zona año, según el consenso económico. tion and investment, after having been influen-
Euro, alcanzando niveles cercanos En el entorno internacional la acti- ced for several years by measures of fiscal and
al 12% influidas por las condiciones vidad económica en Estados Unidos monetary incentives. It is expected that during
laborales débiles en los países más continúa recuperándose, mientras 2014 the good performance of the private de-
afectados por la crisis como Grecia, que la Zona Euro sale oficialmente mand, will be maintained,contributing to reach
España, Portugal e Italia. de la recesión, con mejoras en el a 2.8% growth according to estimates of Con-
En la actualidad no existen pre- desempleo y bajas presiones inflacio- sensus Forecast.
siones sobre los precios en la Zona narias, en especial para estos países There are also improvements for th condition of
Euro y la inflación interanual se ubi- desarrollados. the American labor market, showing a significant
ca en torno al 1%, también por de- El retiro del estímulo monetario de reduction in the rate of unemployment, while in-
bajo del objetivo de mediano plazo la Reserva Federal no afectará las flation remains well below the 2 % target.
del Banco Central Europeo de 2%. tasas de interés internacionales du- These conditions suggest that the Federal Reser-
En cuanto a América Latina, se evi- rante 2014. ve would mantain unchanged its rate of monetary
denció un crecimiento moderado “Debido a la importancia comercial policy, at least during the rest of 2014, minimi-
de 2.6% durante el 2013, explicado de Estados Unidos y Europa para la zing the risk of an abrupt exit of capitals from the
principalmente por expansiones República Dominicana, estas mejo- emergent economies towards this nation.
incipientes de Brasil, México y Ve- res perspectivas favorecerían el buen As well as the world’s largest economies, the
nezuela, tres de las economías más desempeño de las actividades gene- economic activity in the Euro zone, with which the
grandes de la región. radoras de divisas como las remesas, Dominican Republic also has open trade through
En un contexto de términos de inter- el turismo, la inversión extranjera, the EPA, showed a dynamism that was from least
cambio más desfavorables y menor las exportaciones nacionales y de zo- to most, officially stepping out of the recession
liquidez en los mercados financieros nas francas”, indica el análisis de los during the final quarter of the year, with a low
internacionales, se espera que la re- técnicos del Banco Central. but positive 0.5% growth after seven consecutive
quarters of contraction. This year is expected the
consolidation of the recovery in such group of
countries by growing up around 1.1%, according
to the latest estimates of the Consensus Fore-
cast. The analysis of the Dominican Central Bank
indicates that, however, there still are high unem-
ployment rates in the Euro zone, reaching levels
close to 12% influenced by weak labor conditions
in the country’s most affected by the crisis such
as Greece, Spain, Portugal and Italy.
Currently there are no pressures on prices in the
Euro zone and the inflation is around 1%, also
below the medium-term 2% target from the Euro-
pean Central Bank.
As for Latin America, it showed a moderate 2.6%
growth in 2013, mainly explained by incipient ex-
pansions of Brazil, Mexico and Venezuela, three of
the largest economies in the region.
In a context of more unfavorable terms of trade
and reduced liquidity in the international financial
markets, is expected that the region continues a
moderate 2.2% growth this year according to the
economic consensus.
In the international environment the economic
activity in the United States continues to reco-
ver, while the Euro zone officially exits recession,
with improvements in unemployment and low
inflationary pressures, especially for developed
countries.
The withdrawal of the monetary incentives from
the Federal Reserve will not affect the internatio-
nal interest rates during 2014.
“Because of the commercial importance of the
United States and Europe for the Dominican Re-
public, these best prospects would favor the good
performance of foreign exchange generating acti-
vities like: tourism, foreign investment, and would
promote the remittances, national exports and
free zones”, indicates the analysis from Central
Bank’s technicians.
Investment Guide 35
