Economy May 26, 2020 | 7:41 am

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Pandemic shutters 21,259 companies in Dominican Republic

Santo Domingo.- The closure of a significant part of Dominican economic activity since mid-March, ordered by the Government to prevent the spread of COVID-19, already reflects the devastation of the measure, not only in workers, but also in micro and small business leaders.

The Social Security Treasury (TSS) went from registering 92,320 employers in March 2020 to 71,061 in April, a net reduction of 21,259 employers, equivalent to a monthly drop of 23%.

Those most affected were micro and small entrepreneurs, with a range of between one and 15 workers, who represented 78,026 in March and fell to 62,081 in April, a reduction of 15,945, equivalent to 75% of the total number of companies that stopped contributing to the TSS during that period.

Likewise, employers with a range of between 16 and 50 workers fell from 9,723 in March to 5,793 the following month, a reduction of 40.4% (3,930). When compared to the total drop, this business segment represents 18.4% of the collapse.

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