Morgan Stanley highlights Dominican economy growth in 2022

The multinational bank estimates that in 2022, the Dominican Republic will continue to be one of the fastest recovering economies Investment bank Morgan Stanley stated that the Dominican Republic has exhibited rapid and solid economic growth and a positive fiscal trajectory that places it as one of the most attractive emerging markets. "A strong recovery in tourism, a record level of remittances, high income rates, together with reforms in the energy sector, leave us with a positive view of the Dominican Republic," the firm said in a report titled "A bright spot in emerging markets”. In the report, which circulates this January 31, the bank pointed out that the recovery achieved last year, of around 11% of GDP, will be maintained in 2022, placing the country with one of the highest growth rates in the region. According to a press release from the Ministry of Finance, Morgan Stanley explained that the factors that will continue to drive Dominican growth this year will be tourism, construction, foreign direct investment and the consumption of high flows of remittances. The multinational bank highlighted that the management of the health crisis caused by COVID19 was better than that of other countries in the region, which allowed the significant growth of tourism. At the same time, he indicated that the new variants of the coronavirus have not caused notable changes in the number of tourists. In fiscal matters, Morgan Stanley assured that the country is one of the few sovereign issuers with good possibilities of registering a reduction in its public debt this year. The Dominican Republic "has a lower debt load than most BB-rated countries," the multinational said in its report. The firm said that President Luis Abinader has been clear in his commitment to fiscal responsibility, which, together with the approval of an energy sector reform last year, are determining factors in increasing confidence in the country. Finally, Morgan Stanley estimates that the country has room to improve its risk rating within the BB range, and they do not expect it to be downgraded, remaining at the current BB-.

Source: Diario Libre.com