Santo Domingo.- The Central Bank of the Dominican Republic estimates that the local economy will grow towards the end of the first quarter, after a year affected by the pandemic.
“The Dominican economy has shown a great capacity to recover quickly from the recessions that have affected it, supported by its strong macroeconomic fundamentals.”
“The trend that the product has shown in recent months, together with the forecasts of the BCRD forecasting system, allow us to glimpse a new episode of resilience since Dominican growth could be in positive territory towards the end of the first quarter of this year,” says the bank in a report published Sunday.
The Central Bank expects that direct foreign investment will recover to US$2.7billion this year, to approach pre-pandemic levels, and that remittances will continue to support the inflow of foreign exchange during 2021.