Economist says it's not appropriate to tax Airbnb; a job inclusion project for women, youth, and small farmers in the tourism sector is presented; air operations increased in the first half of 2022; Dominican exports reached US$6,305.2 million during the first half of the year; the government freezes fuel prices again; Western countries denounce the impact of the Russian war on the global economy at the G20; Luis Abinader says the effects of Russia's invasion of Ukraine surpass those of the pandemic; manufacturing sector sales grow 23% in the first half of 2022; US$1 billion in loans are on the table; a job inclusion project for women, youth, and small farmers in the tourism sector is presented; the Minister of Economy says the Dominican Republic seeks to reduce the unemployment rate and lower inflation.
Economist says it's not appropriate to tax Airbnb
Economist Haivanjoe Ng Cortiñas deemed the Dominican government's intention to tax Airbnb ill-timed. He asserts that the untimely official announcement comes amidst the current uncertainty in both the global and local economies. "It is counterproductive that at a time when inflation, volatility in capital markets, the depreciation of the euro, economic downturns in major nations, and food crises in some countries and others on the verge of them are present, the Dominican Republic's government is considering taxing Airbnb," the economist criticizes.
They present a project for labor inclusion in favor of women, young people and small farmers in the tourism sector
The Food and Agriculture Organization of the United Nations (FAO), together with the Ministry of Tourism (MITUR), presented the project “Inclusion of Women, Youth, and Small Farmers' Associations in the Tourism Sector Value Chain,” with the fundamental objective of promoting job creation and strengthening family farming. During the project presentation, the Minister of Tourism, David Collado, expressed his satisfaction at being able to support this FAO initiative, stating that he is very proud to see how women and young people have the desire to start businesses and move forward.
Air operations increased in the first half of 2022
The Dominican Republic's international airports recorded 58,763 incoming and outgoing flights in the first half of 2022, a 37% increase compared to the same period in 2021. This was announced by the president of the Civil Aviation Board (JAC), José Ernesto Marte Piantini, at the conclusion of the institution's plenary session today.
Dominican exports reached US$6,305.2 million during the first half of the year
The Dominican Republic's Export and Investment Center (ProDominicana) reported that merchandise exports reached a total of US$6,305.2 million during the period January-June of 2022, showing a year-on-year growth of 10.7% compared to the same period of the previous year 2021 and 29% compared to the pre-pandemic year 2019, according to preliminary customs records from the General Directorate of Customs (DGA).
Government freezes the price of all fuels again
The Deputy Minister of Domestic Trade, Ramón Pérez Fermín, reported yesterday, Friday, that the Government is maintaining the extraordinary fuel subsidy for the week of July 16 to Friday, July 22, 2022.
Western countries denounce at the G20 the impact of the Russian war on the world economy
Western finance ministers condemned Russia's invasion of Ukraine on Friday during their G20 in Indonesia, blaming Moscow for the war's enormous impact on the global economy.
Luis Abinader says the effects of Russia's invasion of Ukraine outweigh those of the pandemic
President Luis Abinader said yesterday in Constanza that Russia's invasion of Ukraine has harmed the Dominican Republic economically more than the effects of the COVID-19 pandemic. The president attributes the inflation affecting basic goods to the armed conflict.
Manufacturing sector sales grow 23% in the first half of 2022
During the first half of 2022, the local manufacturing sector reached sales of 336,669 million pesos, representing a growth of 23.0% compared to the same period in 2021.
There are loans on the table for US$1 billion
The Executive Branch is awaiting Congressional approval for at least six loans or financing agreements, totaling over one billion dollars, for various purposes. The Chamber of Deputies is reviewing four of these agreements, which have already received favorable reports, while the Senate is reviewing the remaining two, which are still under review by the Finance Committee.
Economy Minister says Dominican Republic seeks to reduce unemployment rate and lower inflation
The Minister of Economy, Planning and Development, Pavel Ernesto Isa Contreras, outlined the challenges that the Dominican Republic faces in the context of the post-pandemic recovery of productive activity, which he cited as: reducing the unemployment rate, increasing formal employment, lowering inflation and reducing the poverty rate.
Source: Diario Libre, Hoy, El Día, Listín Diario.
