World Bank study shows real salaries are lower than 2003
A study released by the World Bank says that the good economic growth in the Dominican Republic has contributed to sustained reductions in poverty and improved equality. However the report contains the caveat that the improvements were less than expected. The international agency points out that this fact is recognized in the National Development Strategy (END). The study says “the real salaries in the DR are lower than before the banking crisis of 2003, with the 60% wealthiest earning about 2.5 times the salary of the poorest 40% in 2015.”
The study also shows that between 2000 and 2015 the real salaries of the poorest 40% fell by 8% and by 16.3% for the richest 60%. Altogether, real salaries fell by more than 30% between 2000 and 2004, partly because of 42.7% inflation in 2003 and 28.7% inflation in 2004. Inflation between 2004 and 2015 was pegged at 34% for the poorest 40% and 25% for the richest 60% during the same period.
Dec 17, 2016
Category: DR News |