June 2020 Economic and Financial Review

June 2020 Economic and Financial Review THE COMMONWEALTH OF DOMINICA

economy in the latter part of the year, an

Outlook

overall contraction is projected, as tourism

Economic activity in the Commonwealth

and other sectors have been significantly

of Dominica is projected to decline in

affected by the pandemic.

2020, based on anticipated negative

Risks are tilted to the downside and

developments in key sectors caused by the

include a deceleration in revenue from the

impact of COVID-19 pandemic.

Citizenship by Investment Programme,

However, the construction sector is

lower than expected grant receipts and/or

expected to grow for the remainder of the

delays in the disbursement of loan or

year with ongoing reconstruction and

rehabilitation work in the public sector and

In addition, the

grant funds.

the advancement of private sector projects,

Commonwealth of Dominica remains

such as the Citizenship by Investment

vulnerable to external shocks such as

funded Anichi Resorts, Jungle Bay Hotel

adverse weather and weaken recovery

and the Tranquility Beach Hotel. Also, it is

prospects of trading partners. On the upside,

projected that the agricultural sector will

if an effective vaccine or better and/or

continue to grow for the remainder of the

cheaper testing methods become available,

year and positively contribute to the

the global economy could recover faster than

country’s economy. Although the

expected, which would have a positive

construction and agricultural sectors are

impact on the economy of the

expected to give some impetus to the

Commonwealth of Dominica.

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