The economy grew by 13.1%

The Central Bank of the Dominican Republic (BCRD) reports that the latest figures are available. Monthly indicator of economic activity (Below) Show a growth of 12.1% per annum in July 2021, And accumulated in the first seven months of this year, the accumulated average variance was 13.1%.

In this report, it announces the initial results of the economic activity of July 2021 this year, the currency agency compares the previous year’s statistical comparison site to isolate the effect, as stated in previous publications on the behavior of the economy, compared to the same period of January-July 2021 IMAE 2019 (pre-epidemic). , Resulting in an increase of 3.5%.

Good performance
BCRD specifies Behavior in the first seven months of the year has allowed upward revision of GDP forecasts, Suggests that the 2021 double-digit annual expansion rate, i.e. 10% or more, will close the Dominican Republic into one of the few countries in Latin America that can completely change the contraction in economic activity by 2020 in a year.

PIB en RD $ 91,561.3 MM
Another relevant aspect is that according to the latest updated figures of the macroeconomic framework agreed between the Ministry of Economy, Planning and Development, the Ministry of Finance and the Central Bank, the nominal GDP at the end of 2021 will be US $ 91,561.3 million. This result will offset a one-year decline in 2020 and its pre-epidemic level by 2019 will exceed $ 2,655.2 million.

Indicates whose progress will contribute to lowering the debt level indicator as a ratio of GDP. Further, The Dominican Republic is one of the first countries in the region to recover its personal income. The International Monetary Fund (IMF) pointed out.

Incentive fields
When analyzing the details of the behavior of economic growth in January-July 2021, it was verified Activities that recorded the most significant annual-year expansions compared to 2020 Construction (36.5%), free zone production (28.6%), hotels, bars and restaurants (22.0%), transport and storage (14.2%), local production (12.9%), trade (11.1%) and mining and quarrying ( 9.8%), among others.

In terms of prices, oil and some agricultural commodities show a moderate level, and these low external pressures are reflected in the annual inflation rate, from 10.48% in May to 7.88% in July.

Increase
The monetary institution confirms that the economy is higher than it was before the epidemic.

Last July
In July 2021, the IMAE recorded 12.1% year-on-year growth.

Variation
Taking the pre-epidemic period in January-July 2019 as a particular, the accumulated average variance would be 3.5% in the first seven months of 2021.