The Minister of Economy, Planning and Development, Miguel Ceara Hatton, affirmed that the Government mitigates the impact of inflation to prevent as little as possible from being passed on to the population.
“The Government has been mitigating it to the extent that it subsidized or prevented the increase in fuel prices, which last year was around 14 billion pesos,” said Ceara Hatton, interviewed on the Uno+Uno program, which is transmitted by Teleantillas, channel 2.
The economist and researcher indicated that this year, in January, around RD$1.4 billion was allocated; last week it was about RD$500 million, and this week a higher number is being programmed.
He specified that inflation is a fundamentally imported phenomenon, it is not due to an internal policy and what can be done is to mitigate the impact.
Ceara Hatton stressed that the country has a productive structure highly dependent on imports and cited Central America as an example, a region where much of the energy it produces is hydroelectric and the Dominican Republic does not generate it to that extent.
He stated that “we cannot control it, but we are doing everything we can to prevent it from being transferred as little as possible to the population.”
The minister recalled that The country does not produce oil, which today is around 92 dollars a barrel, a very high price.. “To the extent possible, what the government is doing is trying to ensure that the smallest amount of that money, of that oil bill, of what the energy costs, prevents it from being transferred to the people,” reported Ceara Hatton.
They work to improve public services
In another aspect, the Minister of Economy highlighted the work carried out by the Dominican Government to improve public services and cited the achievements in the supply of drinking water to almost one million additional people who did not have it. Also in sewage, 2,000 more megawatts of energy are being tendered to solve the problem of energy supply, because there are no reserves.
“That had never been done here,” said Ceara Hatton, specifying that work is being done to improve hospitals and public services in general for people’s quality of life.
The economy
Ceara Hattón reaffirmed that the economy in general is doing well in the Dominican Republic. He reiterated that there was an economic growth of 12.3% compared to 2020 and 4.7% compared to 2019.
“No one grew up like us,” he emphasized. “The one that grew the most was the Dominican Republic in America compared to 2019 and we are among the top 10 that grew the most in 2021 compared to 2020,” she specified.
The Minister of Economy expressed that in the present management the agricultural sector has been reactivated, which has guaranteed the population’s food and that there is no shortage.
Escrow
He stated that the trust is an instrument, a flexible instrument that is used so that the flows generated by capital are used in a certain way as established in the contract that serves as a basis.
Other times it serves to preserve public resources to be used in a certain way, an example is the Territorial Cohesion Funds managed by the MEPyD, the public trust in this case guarantees the availability of RD$400 million for investment in the poorest municipalities of country.
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