Pavel Isa will promote a triad for territorial planning that improves the quality of spending; Abinader appoints Joel Adrián Santos Echavarria as interim Minister of the Presidency; Abinader issues decrees to restructure the National Police's educational system; a Fed member warns against an overly rapid rate hike; June inflation was 0.64%; flights of the Dominican airline Red Air remain suspended after the accident, according to the Central Bank; Dominican consumers are more pessimistic; they see a bad time to buy and save; ETED increases energy transport capacity in various parts of the country; the world will reach 8 billion inhabitants this year, according to the UN; Free Trade Zones contribute 77.1% of export growth in the first five months of the year.

Pavel Isa will promote a three-pronged approach to territorial planning that will improve the quality of spending

“We cannot continue to grow in such a chaotic and disorderly way as we have been doing, and that is expressed very starkly in the territory, which implies approving the Territorial Planning Law,” said Pavel Isa Contreras, after being sworn in yesterday as the new head of the Ministry of Economy, Planning and Development (MEPyD)

Abinader appoints Joel Adrián Santos Echavarria as interim Minister of the Presidency

President Luis Abinader appointed Joel Santos Echavarria last night as interim Minister of the Presidency, replacing Lisandro Macarrulla, who took a leave of absence. Santos Echavarria, appointed by Decree 378-22, currently serves as General Manager of AFP Reservas and is also an advisor to the Executive Branch on tourism matters.

Abinader issues decrees to restructure the National Police's educational system

The President of the Republic, Luis Abinader, issued decrees 371-22 and 372-22 that create a Technical Commission for the Restructuring of the National Police Educational System, a Board of Directors for the management of the transition of the Police Institute of Education (IPE) and an Academic Committee of the IPE.

Fed member warns against raising rates too quickly

Higher interest rates are necessary to help cool demand and curb inflation, but the Federal Reserve ( Fed ) should not raise them too quickly, a Fed official said Monday. Fed Esther George warned that raising interest rates too rapidly can be "disturbing" and raise concerns about a possible recession.

Inflation for the month of June was 0.64%, according to the Central Bank

The Central Bank of the Dominican Republic (BCRD) reported that the Consumer Price Index (CPI) for June registered a variation of 0.64% compared to May 2022, placing the accumulated inflation in the first half of 2022 at 4.96%, and placing the year-on-year inflation measured from June 2021 to June 2022 at 9.48% 

Flights of the Dominican company Red Air remain suspended following the accident

Flight operations of the Dominican airline Red Air remain suspended following the crash of one of its aircraft on June 22 in Miami , in which seven passengers, including a pregnant woman, sustained minor injuries. Flights are suspended until the conclusion of the investigations being conducted by U.S. and Dominican authorities to determine the cause of the accident.

Dominican consumers are more pessimistic; they see this as a bad time to buy and save

Despite the positive growth forecasts for the Dominican economy this year (5%), consumers are less optimistic. Inflationary pressures and the deteriorating family situation are impacting their confidence, and the index measuring it fell by 1.9 points in April 2022 compared to the last measurement in November of the previous year. For example, 87.1% of households believe it is not the right time to buy a vehicle, and 81.5% believe it is a bad time to purchase appliances and other household furnishings. Additionally, six out of ten households believe that the job market has worsened to some extent in the last 12 months.

ETED increases energy transport capacity in various parts of the country

The Dominican Electricity Transmission Company ( ETED ) reported that it carried out the interconnection and commissioning of two 138/69 KV autotransformers of 150 and 140 MVA, respectively, and interconnected a 50 MW solar plant.

The world will reach 8 billion inhabitants this year, according to the UN

The world will reach 8 billion inhabitants next November, according to estimates presented today by the UN, which also predict that India will surpass China in 2023 as the most populous country on the planet. The United Nations specifically expects the 8 billionth inhabitant to be born on November 15, according to its latest World Population Prospects report.

Free Trade Zones contribute 77.1% of export growth in the first five months of the year

Free trade zones contributed 77.1% to the growth of the country's total exports, thus contributing to the economic recovery. From January to May of this year, accumulated exports totaled US$3,178.1 million, the highest amount exported since 2012, according to figures from the General Directorate of Customs (DGA).

Source: Diario Libre, Hoy, El Día, Listín Diario.