Economy March 3, 2022 | 9:29 am

Central Bank: Dominican economy grew 6.3% in Jan.

Santo Domingo.- The Central Bank of the Dominican Republic (BCRD) reported that in the month of January the monthly indicator of economic activity (IMAE) registered a year-on-year expansion of 6.3%, “resulting better than expected behavior in the context of an accelerated spread in the country of the Omicron variant of COVID-19 during the first month of the year.”

It pointed out that this fifth wave of contagion caused significant work absenteeism due to the peak registered in the number of active cases of the virus, given the faster transmission of the variant with respect to the previous ones, although with a lower lethality.

The monetary program of the Central Bank of the Dominican Republic projects that growth will be around 5.5%-6.0% in 2022, close to its potential. “However, it is important to note that the military conflict between Russia and Ukraine has significantly increased the uncertainty of the international environment, due to its impact on world economic conditions, including trade flows and the increase in oil prices and other commodities, which could affect growth prospects for 2022.”

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