Economy November 3, 2020 | 12:14 pm

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Dominican economy heads toward worst result in 4 decades

Santo Domingo.- The plunge in tourism, construction and mining that has caused the pandemic will lead the Dominican Republic to post its worst result in four decades. In the first nine months the Dominican economy has accumulated a fall of 8.1 percent, according to the Central Bank.

This result is the deepest setback that the local economy has had according to the data available from the Central Bank since 1981.

It said however that it trusts that the trend is towards a gradual recovery of the economy. Little by little, the data from the Monthly Index of Economic Activity (IMAE) show an ever-sharper decline.

Since the -29.8% economic collapse registered in April, the behavior of the following months has marched towards a closure of the crisis. In July the drop was 8.8%, in August the drop was 7.2% and in September the decline was 5.6%.

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