It argues that public investment, solidarity loans and soft loans are key to revitalizing the construction sector.
SANTO DOMINGO– Economist Francisco Tavarez stated that “the best thing to do right now is to create fiscal space to increase investment in construction, public works, and housing,” asserting that the sector requires urgent measures to regain its dynamism.
He added that "there are mechanisms that help both the construction sector, that is, the construction companies, but also those who are really the final beneficiaries of that construction," which is why he considered it necessary to strengthen state support for the sector.
During an interview on the program La Ventana de Grupo de Medios El Inmobiliario, the professional indicated that, due to salary levels, many families cannot assume mortgage commitments without state support.
“For that, soft credit is needed, because if salaries are low, in order to get a mortgage where you have to pay a fee of $30,000, $25,000 or $20,000, it has to be directly subsidized by the State through solidarity banking,” he argued.
Delays
The professor at the Autonomous University of Santo Domingo (UASD) also pointed out that the delays in the construction sector are due to "institutional bureaucratic issues," and therefore called for improved efficiency in permitting processes so that they do not limit private investment or affect territorial development.
Tavarez also stated that "here we have measured the level of impact of bureaucracy on the economy, and it has been said that so much permitting and paperwork limits the capacity for private investment," so he insisted on simplifying procedures without neglecting oversight.
He also added that "municipalities are institutions that need improvement in our country and should be given the importance they deserve," emphasizing that they require greater resources and technical capabilities to fulfill their functions within the project approval process.
Tax reform
He also addressed the issue of tax reform, noting that it is an aspect that must be analyzed responsibly, due to the impact it could have on the construction sector and the economy in general.
The economist stressed that any reform must be evaluated taking into account the current conditions of the country and the importance of maintaining a balance that allows continued promotion of investment and development.
He also stressed that it is essential that the process be carried out transparently and with an approach that contributes to creating better conditions for the various productive sectors.
