Expert estimates the worst of inflation will have passed in 2023

The founding partner of CIEF Consulting and the Finance Institute of Santo Domingo, Raúl Hernández reported yesterday that the worst of inflation in the worldas well as in the Dominican Republic, will have passed by 2023.

Hernández expressed that although these are projections, he said that this scenario is expected in view of the behavior of this indicator and the decisions that have been made for two years, and that will be reflected next year.

“In this context of relative vulnerability, the Dominican economy is perceived to grow about 5%, because if we are going to be able to reach the goal of the upper part of inflation and we must begin to see liquidity conditions, more converging with the normal of the pre-pandemic era”, the expert told the press, during a breakfast with the Chamber of Commerce of Spain in the DR and Banco Lafise, in a hotel in the capital.

During the meeting, Hernández presented updates on the regional and global economy, which included topics on Russia and Ukraine, the impact of the conflict on global markets, the American continent and the Dominican Republic.

Also, He spoke about the situation and perspective regarding rates and global liquidity and the euro zone, inflation, oil, food, tourism and trade restrictions.

He spoke about the country’s macroeconomics, covering the real sector (economic growth, sectors and employment), the external, governmental, financial and monetary sectors, as well as the section on prices.

In this context, it is recalled that the Central Bank reported that the consumer price index (IPC) reflected a variation of 0.28% last October and indicated that for three consecutive months it was below the 0.30% threshold, which means that the accumulated inflation for January-October 2022 is 6.31%.

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Regarding year-on-year inflation, measured from October 2021 to October 2022, the monetary authority said that it maintains a downward trajectory, standing at 8.24% in October, “a drop of 140 basis points compared to the peak of 9.64% observed in April of this year”, explained the Central Bank, confirming the forecast that inflation will be around 7% at the end of 2022.

Likewise, the vice president of this chamber of Commerce, Julio García, commented that They work to develop the work and proposal plan that allow them to potentiate their contributions to their associates. and, consequently, to the country, through different initiatives, such as the presentation of relevant issues for the management of the current moment that the world is experiencing at an economic level. He reported that they seek to highlight the guidelines on what to do in 2023 to obtain better results by taking into account the right decisions.

 

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