LatinNews Daily - 30 July 2021

In brief: DR central bank revises up 2021 growth forecast

* The governor of the Dominican Republic’s central bank (BCRD), Héctor Valdez Albizu, has said that the bank is revising up GDP growth forecasts for the Dominican Republic for 2021 to between 9% and 10%, up from 8%-9% previously. Valdez said that this stemmed from higher-than-expected GDP growth of 13.3% in the first half of 2021 compared with the same period in 2020, while the monthly indicator of economic activity (Imae) posted a 12.7% year-on-year increase in June. The sectors to have registered the biggest expansion in growth in June were: construction (up 42.2 %), free zones (31.7 %), local manufacturing (14.3 %), transport & storage (13.7 %), mining (11.4 %), and trade (10.7 %). The DR’s economy contracted 6.7% in 2020 as a result of the coronavirus (Covid-19) pandemic.

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