{
  "title": "Dominican Republic: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Dominican Republic",
  "publication": "IMF Staff Country Reports, August 15, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/08/15/dominican-republic-2019-article-iv-consultation-press-release-staff-report-and-statement-by-48592",
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  "summary": "This 2019 Article IV Consultation with the Dominican Republic discusses that the economy rebounded to a record high growth of 7 percent in 2018, with the positive momentum carrying into early 2019.",
  "sections": [
    {
      "heading": "Key findings and summary",
      "content": "- The economy rebounded to a record high growth of 7 percent in 2018.\n- The positive momentum carried into early 2019.\n- The strong economic and policy performance has strengthened resilience to downside risks, but vulnerabilities remain.\n- The fiscal position is under moderate sustainability and affordability pressures.\n- Key structural bottlenecks have not been addressed.\n- Social outcomes can be further strengthened.\n- Upcoming elections in 2020 are likely to dominate the near-term policy landscape."
    },
    {
      "heading": "Macroeconomic outlook and risks",
      "content": "- Outlook: favorable, with growth moderating to potential.\n- Inflation: picking up toward target with fading supply shocks.\n- External position: normalizing.\n- Risks: moderate and balanced.\n  - Upside risk: solid income and credit growth could sustain domestic demand.\n  - Downside risk: external risks are building up."
    },
    {
      "heading": "Fiscal assessment and sustainability",
      "content": "- Fiscal position: under moderate sustainability and affordability pressures.\n- Recommendation: tighter fiscal policies are warranted by demand, sustainability and affordability considerations.\n- Recommended strategy: a frontloaded adjustment, anchored on widening the tax base and mindful of the distributional effects of the adjustment measures, would help reverse the upward debt dynamics."
    },
    {
      "heading": "Structural and social policy issues",
      "content": "- Structural bottlenecks remain unaddressed.\n- Social outcomes: scope to be further strengthened.\n- Policy design emphasis: widen tax base while being mindful of distributional effects.\n\n---\n\n Content in this bundle\n\n- 1domea2019001\n  - 1domea2019001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1domea2019001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 15, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513511108.002",
    "The economy rebounded to a record high growth of 7 percent in 2018.",
    "The positive momentum carried into early 2019.",
    "The strong economic and policy performance has strengthened resilience to downside risks, but vulnerabilities remain.",
    "The fiscal position is under moderate sustainability and affordability pressures.",
    "Key structural bottlenecks have not been addressed.",
    "Social outcomes can be further strengthened.",
    "Upcoming elections in 2020 are likely to dominate the near-term policy landscape.",
    "Outlook: favorable, with growth moderating to potential.",
    "Inflation: picking up toward target with fading supply shocks.",
    "External position: normalizing.",
    "Risks: moderate and balanced.",
    "Fiscal position: under moderate sustainability and affordability pressures.",
    "Recommendation: tighter fiscal policies are warranted by demand, sustainability and affordability considerations.",
    "Recommended strategy: a frontloaded adjustment, anchored on widening the tax base and mindful of the distributional effects of the adjustment measures, would help reverse the upward debt dynamics.",
    "Structural bottlenecks remain unaddressed.",
    "Social outcomes: scope to be further strengthened.",
    "Policy design emphasis: widen tax base while being mindful of distributional effects.",
    "**1domea2019001**"
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