Economic activity recovers significantly, according to an official report
The Ministry of Economy, Planning, and Development of the Dominican Republic reports that economic activity in the country has recovered significantly from the minimum reached in April 2020, touching positive terrain in February with a rate of 1.1%.
The information is contained in the March 2021 Macroeconomic Situation Report and Juncture Monitoring, prepared by the Macroeconomic Analysis Directorate of the Vice Ministry of Economic and Social Analysis (VAES).
The situation report indicates that the Monthly Index of Economic Activity (IMAE) has recovered 30.9 percentage points, which shows the immediate capacity of the country to respond to the various stimuli from the government and its institutions to face the effects adverse effects of the pandemic.
The analysis maintains that the continuous recovery of sales and collection reflects an improvement of the economic activity since mid-2020., explained by a favorable behavior of industrial sales and the service sector with a great impact on the economy national.
Due to temporary external shocks, it specifies that year-on-year inflation was 8.3% in March, while core inflation reached 5.6%.
Likewise, it specifies that the variations observed in prices since the end of 2020 are mainly due to an increase in raw materials in the international market.