Central Bank: The economy is looking good


Staff member
Feb 20, 2019

The Centra Bank of the Dominican Republic reports Gross Domestic Product (GDP) growth is doing better than originally expected. Central Bank governor Hector Valdez Albizu spoke of 12.7% growth over the first nine months of the year and forecast 2021 would close with 10% or better. Sector by sector, the news is mostly good, even when compared to 2019, the pre-pandemic year.

The construction sector is up 20%.

The hotel and tourism industry has rebounded with a 30% increase. 3.3 million visitors arrived in the 9-month period (Jan to Sept). September arrival numbers were 12% more than September 2019 numbers. The forecast is to close the year with nearly five million visitors.

Light manufacturing (free zones) is also doing very well with a 30% increase. The Central Bank says the sector has fully recovered with 100% of its pre-pandemic jobs reinstated.

The Central Bank...

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