Central Bank reports slight recovery in July and August

Dolores

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The Central Bank reported on Tuesday, 29 September 2020 that July and August data reveal the economy is on the way to recovery.



A statement from the Central Bank highlights that the Monthly Economic Activity Indicator (IMAE) for August 2020 registered an inter-annual variation of -7.2%. This figure reflects an improvement over the -8.8% observed last July and the -8.5% corresponding to the January-July period.



The Central Bank highlights that two-thirds of the IMAE result in August (4.9 percentage points of the variation of -7.2%) is explained by the contraction in the activity of hotels, bars and restaurants, as a consequence of the slowdown of this sector, which has been severely affected by the pandemic. Airports in the Dominican Republic were closed from March to July. And a 5pm curfew until August kept most restaurants doing minimal business. Curfew is now 9pm to...

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