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LatinNews Daily - 31 March 2021

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In brief: DR posts first positive economic growth since start of pandemic

* The governor of the Dominican Republic’s central bank (BCRD), Héctor Valdez, has revealed new figures which show that the country’s monthly indicator of economic activity (IMAE) for February 2021 posted 1.1% growth year-on-year, the first positive growth since the start of the coronavirus (Covid-19) pandemic in March 2020. He said that the average growth for all economic activities with the exception of hotels, bars & restaurants (which contracted 50.8%) was 3.3% in February 2021, year-on-year. As regards other sectors, construction was up 10.3% year-on-year followed by: mining (8.1%); local manufacturing (6.5%); health (6.4%); and trade (4.1%). He also said that the BCRD was forecasting GDP growth of between 5.5% and 6.0% for 2021 and highlighted the latest GDP growth forecast from the World Bank (WB), which estimates the DR’s GDP will grow 5.5% in 2021 following a contraction of 6.7% in 2020, above the 4.4% average for Latin America & the Caribbean.