Central Bank reports economy grew 13.3% in first half of the year

Dolores

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Feb 20, 2019
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Central Bank Governor Hector Valdez Albizu reported on key indicators that confirm the Dominican economy is on a firm path to recovery following the economic crisis caused by the Covid-19 pandemic.



The Central Bank reports these indicators for the economy for January-June 2021:



• The Monthly Economic Activity Indicator for June was up 12.7% compared to June 2020. As reference the pre-pandemic period of June 2019, the increase would be 4.7% compared to June 2021.• The faster-than-expected recovery allows for an upward update of the growth projection for 2021 to a range between 9% and 10%.• The economic activities with the greatest expansion were: construction (42.2 %), free trade zones (31.7 %), local manufacturing (14.3 %), transportation and storage (13.7 %), mining (11.4 %) and commerce (10.7 %).• In June, 462,536 tourists entered the country, approximately 80% more...

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Kipling333

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Jan 12, 2010
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Covid started in the DR on about ! March 2020 and quickly everything was closed down .flights cancelled, work stopped and hotel bookings cancelled and then hotels closed and thousands of Haitian workers suddenly disappeared .In June 2020 the country was almost at a standstill ,The overall increase of 13.3 % is extremely disappointing because 2020 was such a bad year.It is only expected that all these sectors have increases because the base for the increase was almost zero. Now ,at least in the east, anyone can see the building that is occurring.At the same time it is easy to see the large numbers of unemployed people . Of great concern especially for the poorer people is the huge increase in prices of food and 10% inflation is quite unacceptable. Again, I can only comment on the DR east of the Duarte Autopista as I seldom go west but from my observations many public works have stopped or slowed down dramatically so if the policy of no more borrowing continues, I can see us back to the Mejia period quite quickly.