“Global growth has slowed to the point that the global economy is perilously close to falling into recession.”
This is how the World Bank sentences its gloomy projection for this 2023, just three years after emerging from the recession induced by the 2020 pandemic. It calculates that world growth will slow down from the 3% forecast six months ago to 1.7%.
Despite the gloomy outlook, the agency projects that, among the largest economies in the Caribbean, growth in the Dominican Republic will average “a solid 4.9 percent in 2023 and 2024.” The percentage is slightly higher than the 4.6% forecast by the Economic Commission for Latin America and the Caribbean (Cepal).
