Economy August 3, 2020 | 10:16 am

Dominican economy fell -7.1% in June, but recovery looms

Dore exports helps economy

Santo Domingo.- The Dominican economy fell -7.1% in June, accumulating a decrease of -8.5% in the first half of this year, evidencing the serious effects of Covid-19 in the country.

That behavior is seriously less than the positive growth of 4.7% registered by the local GDP in the past year.

The figure for June however is less catastrophic than the -29.8% in April (the harshest month in the quarantine), and the -13.6% in May, which indicates that the country’s economic activities show signs of recovery.

“The economy is projected to gradually approach its potential growth in 2021, once the health and economic crises arising from COVID-19 have been overcome,” said the Central Bank in a document detailing the easing measures taken by the Monetary Board to alleviate the crisis.