Economy July 8, 2020 | 9:34 am

Gov. aid for laid off workers a mere US$101.7M monthly

Santo Domingo.- In May some 650,000 workers received social assistance through the FASE program, a number equivalent to a quarter of the employed population in the country.

Monthly spending exceeded RD$6.1 billion (US$101.7 million) in that month, an effort of public spending that the government has highlighted. But the sacrifice does not seem to be on par with other countries in the region.

Compared to other nations in LatAm, the Dominican Republic’s fiscal efforts are among the lowest, and account for only 0.7% of GDP, according to the Economic Commission for Latin America (Eclac) in its most recent report. They point out that only Haiti has less fiscal effort than the Dominican Republic.

El Salvador, Chile and Peru are the nations that have allocated the highest percentage of their national GDP to deal with the effects of the pandemic, at levels that range between 11.1 and 4.8%.