President announces the end of mask mandates and vaccination card requirements; DiDi and Uber comment on regulations that would tax digital services with ITBIS (Value Added Tax); two years of pandemic cost the government over RD$205 billion in direct expenses; US$9 billion trade deficit with China; Texas oil price remains above $93 per barrel; government announces US$1.1 billion debt service reduction for the 2022-2024 period; Mexican businessman eyeing Pedernales tourism project; government will further optimize public spending to address fuel and other product price increases; Juan Orlando Hernández sent to pretrial detention after initial hearing; RD$140.3 million distributed to over 15,000 beneficiaries of FASE and PA' TI who had been unable to collect; digital textbooks approved for schools nationwide; public trust in the National Party declined in 2021, according to a poll.
President announces the end of masks and the requirement to present a vaccination card
In a speech delivered to the nation this Wednesday, President Luis Abinader announced the suspension of all COVID-19 restrictions in the country. The president stated that the use of face masks, the requirement to present vaccination cards to access public places, and other restrictions in public spaces were now the “individual responsibility” of all citizens.
DiDi and Uber give their opinions on regulations that would tax digital services with ITBIS (Value Added Tax)
The regional office of the Chinese transportation company DiDi announced today that it is analyzing the proposal from the Dominican Republic's Internal Revenue Service (DGII) to impose an 18% ITBIS (tax on the transfer of industrialized goods and services) on services offered through digital platforms. The US transportation company Uber asserted today that it is duly incorporated and, like any other company in the country, is registered with the DGII and complies with its income tax and ITBIS obligations.
Two years of pandemic cost the Government more than RD$205 billion in direct expenses
From March 2020, when a state of emergency was declared in the country due to the COVID-19 pandemic, until the end of 2021, the Dominican government incurred direct expenditures of RD$205.542 billion, representing 4.4% of the gross domestic product (GDP). The estimated figure for indirect expenditures is not yet available. Furthermore, the 2022 General State Budget included an allocation of RD$586.5 million for seven initiatives primarily aimed at addressing the effects of COVID-19 and strengthening the healthcare system.
$9 billion trade deficit with China
The Dominican Republic's bilateral trade with the People's Republic of China registered a deficit of US$9.199 billion during the three-year period of 2019, 2020, and 2021, as a result of imports (US$9.901 billion) significantly exceeding exports (US$702 million), according to information published by the General Directorate of Customs (DGA). This information is contained in a study on trade between the two nations, conducted by economist Luis Vargas, who states that this situation represents "a reprehensible ratio of more than US$14 imported for every US$1 exported.".
The price of Texas crude oil remains above $93 per barrel
The price of West Texas Intermediate (WTI) crude oil opened Wednesday with a 1.51% increase, reaching $93.46, rebounding after Tuesday's decline and awaiting developments in the geopolitical conflict in Eastern Europe. At 9:05 a.m. local time (2:05 p.m. GMT) on the New York Mercantile Exchange (Nymex), WTI futures contracts for March delivery were up $1.39 from the previous close.
Government announces US$1.1 billion reduction in debt service for the period 2022-2024
The Ministry of Finance announced this afternoon that, through a debt management operation involving US dollar-denominated bonds, the government achieved a debt service reduction of US$1.1 billion for the 2022-2024 period. At the same time, it indicated that a sovereign bond issuance of US$3.564 billion was carried out in the international market, of which US$1.264 billion was allocated to the debt management operation and the remaining US$2.3 billion will cover part of the external financing foreseen in the 2022 General State Budget.
Mexican businessman looks towards the Pedernales tourism project
Mexican businessman and president of Cosmos Global Holding Group, Germán Rosete, plans to focus on the southern region of the Dominican Republic, where the Pedernales Tourism Development Project will be located and where public-private collaboration will be essential. He stated that this is where “we want to help the Caribbean country grow in tourism.”.
The government will further optimize public spending to address rising fuel and other product prices.
President Luis Abinader informed his team of ministers and directors that the government will make additional efforts, beyond those already announced, to optimize public spending. According to José Ignacio Paliza, Minister of the Presidency, the purpose of streamlining spending is to generate a surplus to address rising fuel prices in the international market, the effects of which have been felt by the population.
Following the initial hearing, Juan Orlando Hernández was sent to pretrial detention
Former Honduran President Juan Orlando Hernández has been remanded in custody until at least March 16, the judge ruled during Wednesday's first hearing on his extradition request to the United States, which is seeking his extradition on drug trafficking charges, Supreme Court spokesman Melvin Duarte announced. The judge "has ordered the provisional detention of Juan Orlando Hernández Alvarado to guarantee his presence" at the second hearing on March 16, the official stated.
RD$140.3 million to more than 15,000 beneficiaries of FASE and PA' TI who had not been able to collect
Starting tomorrow, the National Treasury will begin paying approximately RD$140.3 million to more than 15,000 beneficiaries of the Employee Social Assistance Fund (FASE) and the Independent Worker Assistance Program (Pa' Ti) who, "for various reasons," had not yet received their payments. This information was provided Wednesday morning by the National Treasurer, Luis Rafael Delgado Sánchez, along with the Deputy Minister of Finance, Derby de los Santos.
The use of digital books in educational centers nationwide has been approved
The National Education Council (CNE) unanimously approved this Wednesday the use of digital books for the Initial, Primary and Secondary levels in the Dominican education system, both public and private.
Levels oftrustin the National Police decreased in 2021, according to a survey
Trust levels in the National Police registered a decrease during 2021 compared to 2019, according to data from the "Americas Barometer" and the research "Political Culture of Democracy in the Dominican Republic and the Americas 2021: Taking the Pulse of Democracy", published this Wednesday.
Sources: Listín Diario, Diario Libre, El Día, Hoy, El Caribe.
