SANTO DOMINGO.- The economist Haivanjoe NG Cortiñas considered that the Dominican economy only hopes to recover in the short term, depending on the behavior of the three main factors currently affecting the Dominican Republic, which are that of the world economic recovery post Covid-19, on the control of the local health crisis due to the new coronavirus and who won the presidential elections on July 5.
He affirms that the North American economy has not yet controlled the rate of spread of Covid-19 and several of its main states have had an upturn in the contagion rate, reason that allows us to predict that the recovery of the US economy will be slow for what remains. of the year 2020, since it still registers an unemployment rate of 13.3% and has the challenge that 26.0% of businesses can reopen in the short term.
As for the economies of China and Europe, NG Cortiñas points out that these present great challenges and those of the main Latin American countries, such as Brazil, Mexico, Peru and Chile, will take longer to recover.
At the local level, the economist points out that the authorities have not been able to contain the expansion and lethality of the Covid-19 and today we are approaching the 31,000 infected and more than 718 deaths, despite the fact that the country has been with the national state of emergency, which has resulted in the health crisis translating into an unnecessary economic and social crisis.
He said that this crisis is manifested in the fall in GDP of -7.5% in the first months of the year -the highest in the last 50 years in the country-, at the high level of unemployment and increased poverty that are observed, Given the fall in the monetary income of workers, belonging to the formal and informal sectors of the economy, who lost their jobs temporarily and many will not be able to rejoin due to the total or partial closure of companies.
— El Día to eldia.com.do