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COUNTRY INSIGHTS

​Economic growth in June confirmed a slowdown in the economic contraction.
DOMINICAN REPUBLIC · In Brief · 03 Aug 2020

At the Monetary Policy Meeting held on July 31, the Central Bank reported that on June 2020 the economy contracted by 7.1% relative to June 2019, a much smaller contraction than the one experienced on May (-13.6%) and April (-29.8%). The question is to what extent will the deceleration of the eco...

New government outlines its agenda, as COVID-19 intensifies
DOMINICAN REPUBLIC · Report · 03 Aug 2020

The health crisis and economic recovery are President-elect Luis Abinader’s most urgent challenges. The pandemic has intensified over the past two weeks, reaching 66,182 cases and 1,123 deaths, while in the country’s two largest cities, the capacity of the health system is near collapse. GDP g...

​The Government declared the State of Emergency, again
DOMINICAN REPUBLIC · In Brief · 21 Jul 2020

The deterioration of the sanitary situation due to COVID-19 in July forced the Government to request Congress authorization to declare, once again, a State of Emergency. Last Sunday, the Congress passed the authorization and on Monday the President signed the decree. The declaration will be in fo...

Abinader announced key figures of his economic cabinet
DOMINICAN REPUBLIC · In Brief · 13 Jul 2020

The president-elect Luis Abinader has announced who will make up his economic cabinet. The head of the Central Bank, Héctor Valdez Albizu, will be ratified in his post for two years. Miguel Ceara Hatton, renowned economist with a long history of work in economic development, will be the Minister ...

Abinader has been proclaimed elected President and PRM won absolute majority in the Senate
DOMINICAN REPUBLIC · In Brief · 08 Jul 2020

The Central Electoral Board proclaimed Luis Abinader and Raquel Peña as elected president and vice president. Abinader and his ballot partner obtained 52.5% of the votes, Gonzalo Castillo and Margarita Cedeño (current VP) of the PLD and allies obtained 37.5% and former President Leonel Fernández ...

Abinader wins the presidential election with 54% of the votes
DOMINICAN REPUBLIC · In Brief · 05 Jul 2020

Today, the opposition defeated the PLD by a wide margin in national elections and there will be no need for a second electoral round. Partial but irreversible results indicate that Luis Abinader (PRM and allies), obtained about 54% of the votes, while Castillo (PLD and allies) managed only 35%. F...

Abinader headed for a presidential victory
DOMINICAN REPUBLIC · Report · 01 Jul 2020

Three recent surveys with the best track records in predicting electoral results have projected that Luís Abinader (PRM and allies) will win the July 5th presidential election, by a wide margin over Gonzalo Castillo (PLD and allies). On average, they estimate 52% of voting intentions for Abinader...

The country is open to tourism
DOMINICAN REPUBLIC · In Brief · 01 Jul 2020

As of July 1, the Dominican Republic is open to tourism. The government has authorized the reopening of passenger flights without discrimination as to origin, and the reopening of all hotels and restaurants, which are obliged to operate under strict sanitary protocols. Despite that, the sector's ...

Abinader (opposition) could be heading towards a first round victory in July 5
DOMINICAN REPUBLIC · In Brief · 25 Jun 2020

In the last three days, the three most reputable polling firms in the country published the results of their most recent polls on electoral preference and all indicate that Luís Abinader (PRM and allies) could be heading towards a first round victory in the July 5 elections. All the surveys were ...

The state of emergency was extended and the phase 3 of the reopening was postponed
DOMINICAN REPUBLIC · In Brief · 20 Jun 2020

Last week, President Medina asked Congress to extend the state of emergency until June 30. Despite opposition from the main opposition parties, Congress approved it as some Congress members of the opposition broke party lines and joined the PLD on short-lived objectives. The PRM and the FP (oppos...

Budget amendment bill more than double the government deficit
DOMINICAN REPUBLIC · In Brief · 19 Jun 2020

As announced several weeks ago, President Medina sent a bill to Congress that amends the 2020 budget law. The new budget: a) reduces revenues estimates by 10.3% or 0.7% of GDP. The reduction is less than expected because it includes extraordinary revenues not considered in the previous budget for...

In April real growth was estimated at -29.8% and for Jan-Apr at -7.5%
DOMINICAN REPUBLIC · In Brief · 11 Jun 2020

The Central Bank has just reported that in April the economic activity declined by 29.8% compared to April last year and that between January and April it fell by 7.5%. This is the sharpest decline in economic activity in recent economic history. These figures are not surprising at all. In fact, ...

COVID-19 changes the political scenario
DOMINICAN REPUBLIC · Forecast · 05 Jun 2020

COVID-19 has changed the political scenario, in the runup to the July 5th elections. One of the most prestigious polling firms has projected a technical tie in the preferences for Luis Abinader (PRM & allies) and Gonzalo Castillo (PLD & allies), with 39% for Abinader (down 4% from January) and 37...

The reopening of the economy begins; in March, activity declined 9.4%
DOMINICAN REPUBLIC · In Brief · 18 May 2020

Last night, President Medina announced the beginning of the reopening of the economy and signed a decree reducing the curfew hours, which will now start at 7pm (instead of 5pm) and end at 5am (instead of at 6 am). The announcement of the start of reopening came two days after the Central Bank rep...

A budget amendment bill will double the deficit
DOMINICAN REPUBLIC · In Brief · 14 May 2020

The government is preparing to submit a bill to Congress aimed at amending the 2020 budget law. The Ministry of Finance announced that the bill will be submitted in the second half of May and that the new budget would increase the deficit target of from the equivalent of 2.2% of GDP to 4.5% of GD...

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