Social distancing, suspension of non-essential activities, closure of the country’s borders by air, sea and land, the evening curfew, limitations on public transportation and other safety measures are showing their effects in the economy, reports the Central Bank. The Central Bank reported on the impact of the coronavirus preventive measures at the start of the year.
The Central Bank says that the year had begun well, with the first two months maintaining the relatively high growth rate that had been the normal for the Dominican Republic over the past decade.
The Central Bank Monthly Indicator of Economic Activity shows performances of +4.7%. + 5.3% and -9.4% for January, February and March 2020. The net result is zero Gross Domestic Product (GDP) growth for the quarter.
The report notes that the World Economic Outlook received from the International Monetary Fund (IMF) forecasts a -3.0%...