Dominica: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Dominica

July 20, 2016

Preview Citation

Format: Chicago

Dominica: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Dominica, (USA: International Monetary Fund, 2016) accessed December 27, 2024

Summary

This 2016 Article IV Consultation highlights that the Dominican economy was hit hard by tropical storm Erika in 2015. Agricultural output and manufacturing declined sharply, as the storm affected crops and access to arable land, and prompted the closure of operations of the main industrial plant. Inflation has remained subdued, mainly as a result of falling fuel prices. Notwithstanding weak exports of agriculture and tourism, the 2015 current account deficit remained contained on the back of lower oil imports. Output growth is expected to remain subdued in 2016 at 1.3 percent as the economy slowly recovers from the storm and investment in reconstruction picks up.

Subject: Environment, Fiscal consolidation, Fiscal policy, Fiscal stance, Natural disasters, Public debt, Public sector

Keywords: Authority, Budget projection, Budget proposal, Caribbean, CR, ECP, ECP revenue, Expenditure projection, Financing constraint, Fiscal consolidation, Fiscal stance, ISCR, Natural disasters

Publication Details

Pages:

73
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/244
Stock No:

1DMAEA2016001
ISBN:

9781498377393
ISSN:

1934-7685

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