New Market Report: Retailing in Dominican Republic
The Dominican Republic's fiscal deficit reached 6.6% of GDP in 2012, the highest level ever in its history. Late that year, the government began a harsh austerity drive to reduce the deficit and improve its overall fiscal position. Massive spending cuts and higher or new taxes on all kinds of goods and services reduced disposable incomes and dampened consumer confidence, causing GDP growth to slow sharply in 2013. These conditions inevitably restricted the development of the local retailing...
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