Central Bank says remittances in ’24 were over US$10.7 billion

Dolores

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Feb 20, 2019
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The Central Bank of the Dominican Republic (BCRD) reports that remittances received reached a record high of US$10.756 billion in 2024, surpassing the institution’s projections. This represents a 5.9% increase or US$598.8 million compared to 2023.

The forecast for 2025 is for remittances to continue to grow in 2025, reaching an estimated US$11 billion. However, the BCRD also acknowledged the challenges posed by the global economic environment and pledged to remain vigilant in safeguarding the country’s economic stability.

The BCRD attributed the surge in remittances primarily to the strong economic performance of the United States, where around two million Dominicans live. The low unemployment rate and expansion of the US service sector, which employs many Dominicans, contributed to the increased flow of funds.

In December alone, the country received US$1.003.5 billion in...

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windeguy

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A bit under 10% of the GNP of the DR, no?