LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

February 15, 2022

Will the DR Keep Seeing Strong Economic Growth?

The Dominican Republic’s economy strongly rebounded last year from the downturn of the Covid-19 pandemic. Santo Domingo is pictured. // File Photo: Barnaby David via Creative Commons.

Q

A

Harold Vásquez, economic consultant in the international department of the Central Bank of the Dominican Republic: “In 2021, the Dominican economy posted a strong growth of 12.3 percent from 2020 and a significant 4.7 percent increase compared to 2019. Both figures reveal that the economy has recovered from the 2020 Covid-19 recession and that economic activity has improved as compared to pre-recession levels. The general and extreme poverty indicators have continuously declined since 2004. By 2019, the general and extreme poverty indicators dropped to 21 percent and 2.7 percent, respectively. In 2020, according to the Dominican Republic’s Ministry of Economy, Planning and Development, these indicators increased to 23.4 percent for general and 3.5 percent for extreme poverty. The increase in poverty levels in 2020 was related to the Covid-19 pandemic, which was not exclusive to the Dominican economy. However, the poverty increase in the Dominican Republic was…”

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