Economy April 5, 2021 | 7:32 am

Dominican Republic faces upbeat economic prospects

Santo Domingo.- Faced with better economic prospects, the Dominican Republic Government halved the expectation of depreciation of the Dominican peso for this year.

In the document Macroeconomic Panorama 2021-2025, revised at the end of last month, the financial authorities estimated that the dollar will close the year with an average price of 59.13 pesos, a year-on-year depreciation of 4.5%, significantly below 9.2% previously calculated.

A livelier industrial activity, a revitalization of family consumption, an unexpected economic growth in February and lower levels of uncertainty due to COVID-19 are some of the signs that envision another scenario.

But not all recovery will proceed at the same pace. The tourism sector, which contributes a third of the foreign exchange that enters the country, will take longer to recover.

In fact, Central Banker Héctor Valdez Albizu, last week said the tourism activity will return to normal by 2023.