The Central Bank has released indicators that the economy is rebounding. Remittances, foreign investment and people getting back to work are making the difference. A report in Acento says the recovery has been noted in reports by international bank groups, too, such as Bank of America and Barclays.
Bank of America forecasts GDP growth of 8.4% for 2021, compensating for the negative growth in 2020. Bank of America says the Dominican Republic will not need a hand from the International Monetary Board. “DomRep can deal with shock on its own,” reports the bank in a recent overview on the country’s economy.
The Bank of America says the government is handling the country’s situation and tax revenues are recovering, as reported by the Tax Agency. Furthermore, the Bank of America remarks that the new efficiency in government expenditures will have a positive effect. It also observes that the US’s fiscal stimulus is having spillovers in worker remittances to the country. It says that the distribution of Covid vaccine around the world will positively impact the tourism sector.
Minister of Public Works spoke at the inauguration of the Cargo City terminal at the Las Americas International Airport by Vinci Airport’s Aerodom concession. He highlighted the cutting of red tape by the new government and the public-private partnership law as new tools available to investors.
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El Nuevo Diario
4 November 2020