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Thursday, July 7, 2022

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Government foresees a promising 2022 amid good public spending

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President Luis Abinader, together with Vice President Raquel Peña, headed the last Council of Ministers and General Directors of this 2021, in which it was determined that the next year 2022 will be promising due to the good management of public spending.

This was stated by the ministers of the Presidency, Lisandro Macarrulla, and the Administration of the Presidency, José Ignacio Paliza, when offering a report on what was discussed at the meeting in which the results of the macroeconomic and social indicators that measure the performance of the management of this government so far this year.

“We were able to weigh each of the most important and sensitive areas, as well as organize ourselves with a view to the year 2022. Some initiatives will be very useful to continue making the management of public spending and the entire administration more efficient”, said Paliza.

For his part, Lisandro Macarrulla highlighted that the millions of Dominicans have been reincorporated to a better standard of living, and that from next year the distribution of the wealth generated will be improved.

In this sense, he stressed that per capita income will end for the first time in history at around $ 9,000 a year, largely as a result of higher wages in the public and private sectors.

“The whole world has incorporated a large part of its population into poverty, a product of the pandemic crisis, and we have had the opportunity to almost equal the numbers we had precovid”.

Among the other indicators, he cited the reduction of the non-financial public sector debt by 4.8% of GDP, from January to date. Likewise, the projected growth figures as of December 31st is around 11%, which places the Dominican Republic among the best performers in the region.

“But we have also been the country that has improved its position the most in the fight against corruption. Another important indicator is the deficit, which is going to be less than 3%, when we had a projected deficit of 4.6%”, said Macarrulla.

Another of the good indicators that both ministers referred to is that the Dominican Republic is the only country in the region that, according to two country risk rating entities, improved the positioning of its economy in the world, while others seven countries deteriorated their position.

“Fitch and Standard & Poor’s have placed us as a country in a more positive projection, showing that the steps that are being taken in the public administration are indeed the right ones”, concluded José Ignacio Paliza.

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