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Thursday, July 7, 2022

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President Abinader announces investment in the Colonial City

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President Luis Abinader held a meeting with the Minister of Tourism, David Collado, as part of the agenda of the Cabinet of that sector, where he announced an investment of 460 million pesos (8.2 million dollars) in small works and renovation of historical monuments in the Colonial City.

The president explained that the amount from the Ministry of Tourism is additional to the investment made by the Inter-American Development Bank (IDB).

“We have decided, with the savings achieved by the Ministry of Tourism, to allocate about 460 million pesos for various works that together with the funds from the Inter-American Development Bank (IDB) program we are going to substantially improve the Colonial City”, said the chief. of State.

At the conclusion of the meeting at the Palacio de Borgellá in the Colonial Zone, the president offered statements to the press and stressed that the meeting analyzed various tourism and development projects in this area and the country.

Among the projects analyzed, he cited the Santo Domingo Convention Center, the Bergantín Beach Project in Puerto Plata and the planning of the Las Terrenas beach.

Decreases percentage of debt in relation to GDP

On the other hand, the president stressed that this year the percentage of debt in relation to GDP is decreasing, by about seven points.

“In other words, we are reducing between 62% or 64% of debt in relation to GDP. Because of this, for the first time in decades, the credit institutions improved us and took us from negative to stable in the economy ”.

He stressed that the economy of the Dominican Republic is the only one in Latin America in which Fitch and Standard & Poor’s improved the credit level.

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