5% Growth Forecast for Dominican Economy in 2014

The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) has estimated that the GDP of the Dominican Republic will grow 5% during 2014. The Commission reduced its projections for the region as a whole from 3.2% to 2.7%, citing less economic expansion in Brazil and Mexico than anticipated. Panama is the country in the region that will grow the most in 2014 ( 7%), while, at the other extreme, the Venezuelan economy will contract by an estimated 0.5 percent. Brazil and Mexico, the region’s two main economies, will grow this year by 2.3% and 3%, respectively.