Economy February 22, 2021 | 9:03 am

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IDB projects losses of 7% of GDP for Dominican Republic

Santo Domingo.- The long-term economic repercussions due to the closures of preschool programs due to COVID-19 may be unprecedented, according to the Inter-American Development Bank (IDB), which projected for the Dominican Republic losses of 7% of GDP.

In the publication: “Economic costs of the reductions in preschool programs due to the COVID-19 pandemic”, the international organization presented the first study to simulate the future losses that the closure of these services would cause in 140 countries.

It emphasizes that the effects can be observed when children, currently of preschool age, are adults. “These losses are considerable, compared to government spending on all levels of education in the same countries. Policies must mitigate the effects of the closure of preschool programs to avoid these huge losses,” says the document published last September.

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