AIRD and Alacerlo analyze the country’s economic growth in 2022

The Latin American Steel Association (Alacero), accompanied by the Association of Industries of the Dominican Republic (AIRD), carried out an activity to analyze changes in the country’s economic growth.

The representative of the economic aspects of the international entity, Lucas Ferro, warned that the Latin American region is exposed to a slowdown at the regional level, due to the dragging behavior of the main developed economies.

noted that countries in the region that have lost their producerswho have been participating in a gradual process of de-industrialization and the loss of skilled jobs, as is the case in Brazil and Jamaica respectively.

He added that in the case of the Dominican nation, growth in 2022 exceeded the Latin American averageand it is expected to continue above said average in 2023.

“Although there are signs of inflationary deceleration in most of the countries of the region, they are not conclusive. Unlike other selected countries in Latin America, the Dominican Republic is expected to converge towards the established target range, expecting a decrease in the monetary policy rate at the end of the year,” Ferro said.

Regarding jobs in the Dominican market, the economist said that these increased in 2022 and even exceeded pre-pandemic levels, reaching 230,132 direct jobs and 1,150,650 indirect jobs, for a total of 1,380,782 jobs in the region.

Ferro pointed out that, despite the reduction in steel consumption in 2022, the index is above pre-pandemic levels and recovering slightly in 2023.

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