IMF says Dominican economy will fall 1% this year

Santo Domingo.- The International Monetary Fund (IMF) projects that the Dominican economy will fall 1% this year and then rise 4% in 2021.

The forecasts were published Tue. morning during the presentation of its most recent semi-annual report on “World Economic Outlook” in which it estimates that the Latin American and Caribbean region will contract 5.2% due to the pandemic.

It said the unemployment rate in the Dominican Republic will rise from the 6.1% posted in 2019 to 9% for this year. Meanwhile GDP per capita will undergo a -1.9% drop in 2020, and the IMF expects it to recover by 2.9% next year.

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