Abinader Cites Measures to Control Inflation Rise  

 

• President Luis Abinader affirmed that despite the country facing the highest international inflationary levels in the last 14 years, the government had approved a package of measures and actions to mitigate it to the extent possible without neglecting the leading macroeconomic indicators.
• The President highlighted that the country’s inflation is below the average of the region and other countries of world reference. The low inflation levels have been achieved without increasing the weight of the consolidated public sector debt concerning the Gross Domestic Product and with a reduction of the non-financial public sector debt, which has dropped from 49.7% in August 2020 to 47.5% in June 2022.
• Notably, the country has the highest level of reserves in history with US$14.5Bn, employment levels are higher than in the pre-COVID stage, tourism is experiencing record growth and the free zones will close this year with the best export data in their history.
• Additionally, since the war between Russia and Ukraine began, the government has allocated RD$42.8Bn in a program of subsidies for the protection of the working classes, as well as for the most vulnerable, mainly to subsidize 100% of the increase in fuel prices and directly for fertilizers and other components used in agricultural production.

(Source: Dominican Today)