Dominican Republic economy will grow 0% in 2020, according to the World Bank

BOCA CHICA. – The Dominican Republic will have zero growth (0.0%) this year 2020, according to estimates by the World Bank, an organization that predicts that Latin America and the Caribbean will have a -4.6% drop as a result of the Covid-19 floods in the economies.

This will require multiple public policy responses to support the most vulnerable, avoid a financial crisis and protect jobs.

This is established in the last semi-annual report of the Office of the Chief Economist of the World Bank for Latin America and the Caribbean, called “The Economy in the Times of Covid-19.”

He points out that current protection and social assistance programs should be rapidly expanded. Furthermore, it is likely that different governments should support the financial sector institutions and the most important sources of employment.

“We must help people meet these daunting challenges and make sure that financial markets and employers can weather this storm,” said Humberto López, acting vice president for the Latin American and Caribbean regions.

The most affected in its growth will be Grenada with -7.3%, Ecuador and Mexico -6.%, Brazil -5%, Argentina -5.2%, and El Salvador -4.3%.