The Central Bank (BCRD) reported that remittances reached their highest growth in the past decade, reaching US $ 8,219.3 million in 2020, 16.0% above 2019.
It wasn’t until December that the flow of remittances entering the country reached $ 872.3 million, a value that is $ 215.6 million (32.8%) higher than the same month of the previous year, when it reached $ 656.7 million amounted to. The BCRD explains that the continued recovery in economic conditions in the United States (US) after the reopening, the country where 83.8% of flows came from in the past eight months, was a determining factor in the behavior of the remittances received. .
Foreign investment
Major communications, energy, mining, and free zone companies have announced significant investments will be made in the coming years, some of which will begin this year, reflecting investor confidence in the resilience of the Dominican economy, according to BCR. .
This would allow just last year, despite the pandemic crisis, foreign direct investment (FDI) would reach $ 2,554.3 million, which, according to preliminary figures, would be the highest among countries in Central America and the Caribbean, and others similar. Latin Americans. to the Dominican.
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The Creole community in the US.
Absent
The Dominican diaspora benefited most from the improvement in employment and from US financial aid to the unemployed in that country.
Foreign investment
The level of foreign direct investment in the country would cover nearly twice the estimated 2.0% of GDP current account deficit, the BCRD said in a statement.