Leonel accuses the BC of manipulating economic growth figures

The ex-president Leonel Fernandez assured this Wednesday that the Central Bank manipulates national public opinion, when it reports that the country’s economy grew 12.3% in 2021.

Fernandez stated that the economic growth of the country during 2021, should be compared with the year 2019 not with 2020since, in that year, the country’s economic revitalization was affected by the pandemic.

“The 12.3% growth of the economy is in relation to the year 2020, when the economy experienced a contraction of at least 6%, if compared to 2020 it grew 12.3%, if compared to the year before the pandemic, 2019, grew 4.7%, therefore the difference between 12.3% and 4.7% is 7.6%, that is statistical rebound.

The former President of the Republic said that “The economy grew with respect to the year of the pre-pandemic 4.7%that is real organic growth, the other is called statistical rebound, and what the Central Bank is doing in its statement is manipulating national public opinion, when it says that this is real growth”.

Fernandez stated that when the people are told that we grew 12.3%, a bubble is being created, an illusion that does not correspond to reality.
about inflation
Fernandez stated that the Inflation for 2021 was 8.5%, double what the Central Bank set. “The Central Bank set four plus or minus one as the inflation target for the year 2021, that means it can be a minimum of 3, a maximum of 5, but not exceed that, that is what the Dominican people are feeling.

When he says that he is increasing beef, eggs, chicken, and the entire basic family basket, it is That is double the inflation forecast by the Central Bank for the year 2021.the people are feeling the economic crisis to which the Government of the Dominican Republic never refers,” Fernández said.

Fernández, three times president of the Republic and an active political leader, spoke while pronouncing a few words at a swearing-in ceremony at the political office of the People’s Force, a party that he founded and directs since his separation from the Dominican Liberation Party (PLD). , of which he was president.
About trust law
The former president pointed out that the Government must explain to the country the trust for the National Police.

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"If something corresponds to the State is to guarantee citizen security and national defense, these are not functions that are delegated, These are powers that the Constitution confers on the public administration, therefore when the country calls for citizen security and a transformation of the Police is being discussed, no one has explained to this country what a trust for the National Police consists of.”

The Central Bank reported that according to the preliminary results of economic activity during December and at the end of 2021, the real Gross Domestic Product (GDP) reached a notable year-on-year growth of 12.3%.

He stated that this result places the country as the one with the best performance in real terms compared to pre-pandemic levels. GDP growth stood at 4.7% in 2021 compared to 2019 reflecting a real reactivation of the Dominican economy instead of a statistical rebound, contrary to the case of many of the Latin American economies.

Fernández swore into the People’s Force dozens of former leaders of the PLD and other political organizations. They include Félix Ernesto Guevara, former president of the Intermediate Committee, Ricardo Antonio Núñez, former leader of the PRM, Ramón López, Midel Feliz, former director of the Palmarejo-Villa Linda Municipal Board, Paulino Silven, Julio Sotero, among others.

The former President of the Republic stated that inflation for 2021 was 8.5%, double what the Central Bank set.

When he says that beef, eggs, chicken, and the entire basic family basket is going up, that is double the inflation forecast by the Central Bank for the year 2021, said the former president. of the Republic and founding president of the People’s Force.

Leonel Fernández also referred to the issue of citizen security and the trust for the Police, “nobody has explained to this country what a trust for the National Police consists of.

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