Friday, September 29, 2023

According to the ministry, the economic dynamism is due to improvements in construction, trade and other areas

SANTO DOMINGO.- The Ministry of Economy, Planning and Development emphasized the positive perspective that the country is keeping in terms of its economic dynamism and its reactivation in the second half of this year.

“In fact, already in July, the growth in economic activity was 2.9% yoy,” said the Vice Ministry of Economic and Social Analysis, through the Directorate of Macroeconomic Analysis, in a technical note on the growth of the Dominican Republic and the region.

He points out that the expansion is in response to the significant improvement in local manufacturing, construction, trade and transport activity, which has impacted the slowdown in demand seen in the first half of the year.

She claims that this latest result reflects the impact of the liquidity provision facilities, as well as cuts in the base rate, which are part of the monetary stimulus package implemented by the Dominican Republic’s central bank, along with the continuity that there has been by the government to grant subsidies Measures granted for certain items also had an impact on slowing down the increase in the price level of the main products of national consumption.

It also said that the annual inflation rate was 3.95% in July, the lowest since June 2020 (2.90%).

“If we compare to the Central American region, we rank fourth with the lowest year-over-year inflation. And if we compare the year-end forecasts, which have been revised downwards due to recent developments, we are among the top three economies with the lowest forecast final inflation of 4%,” stresses the Ministry of Economy.

Nation World News Desk
Nation World News Desk
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