68.9% of Dominican Republic’s population barely got by

Santo Domingo.- A large part of the Dominican population (68.9%) had difficulties to cover their expenses in 2019, a few months before the coronavirus pandemic caused the debacle of the national economy.

The report “National Survey of Financial Inclusion (ENIF) 2019″ prepared by the Central Bank, says that, to face the lack of resources to cover their commitments, 41.1% requested loans from relatives, informal moneylenders or financial institutions, 30.8% reduced their expenses and 7.3% used their savings.

The ENIF, whose data were collected from December 9 to 23, 2019, adds that “consequently, this indicates a deficiency in the way of budgeting and managing the resources received, which affects the ability to save and have real control over their income.”

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