Dominican Republic’s economy will fall 6% in 2020: IMF
Santo Domingo.- Dominican Republic’s economy will fall 6% in 2020, as a result of the impact of the pandemic, although it expects a recovery next year, according to estimates revealed Thursday by the International Monetary Fund (IMF).
However, the IMF estimates that by next year the country will be able to regain economic dynamism, projecting growth of 4%, according to the report “Economic Outlook for the Americas: the persistence of the pandemic clouds the recovery.”
The fall in Dominican GDP will be lower than the average for Latin America and the Caribbean, which the agency estimates at 8.1% for this year, although it projects a 3.6% recovery of the regional economy by 2021.
In April, the IMF estimated that the country would suffer an economic fall of 1%, while at the beginning of October its forecast worsened with a reduction of 5.9%.