SANTO DOMINGO – José Ignacio Paliza, the Dominican Minister of the Presidency, announced yesterday that the government's economic team will release in the coming days the adjustments that will be made to raise funds for the projects included in the Fiscal Modernization Law, which was withdrawn from the National Congress by the Executive Branch following widespread public rejection.
At the conclusion of the 44th Council of Ministers and Directors, held at the National Palace and chaired by the President of the Republic, Luis Abinader, the official indicated that the economic team will offer the country some alternatives in due course that will facilitate the government's fulfillment of projects in the pipeline.
"In due course, the government's economic teams and agencies will inform the country of some acceptable alternatives and some scheduling options, especially regarding the timeline for some of the specific projects that were, or are, underway, which will perhaps require us to project them into the future (...), but you can rest assured that your question will find answers in the coming days," he stated.
Paliza stated that just as the country has been able to move forward with fiscal limitations during the last four years, President Abinader will continue to do so.
Economic profile
He said that during this Council of Ministers meeting they reviewed the current economic profile of the Dominican Republic, highlighting that as of August, the country had grown by 5.6% and the cumulative growth from January to date was 5.1%. He stated that the inflation target remains at 4% ± 1%.
He highlighted that the reserves at the Central Bank exceed 14 billion dollars, while the accumulated deficit up to this week is only 1.4% of the Gross Domestic Product (GDP), which, compared to the same week last year, "we are at the same percentage.".
Furthermore, he maintained that internationally, the Dominican Republic has climbed in the rankings of various transparency and justice indicators. He mentioned that, according to the Transparency International and World Economic Forum indices, the country has improved its position by 61 places in justice , 29 in transparency, and 40 in political stability.
Other achievements highlighted by the official include the advancement of 26 positions in social , 31 in institutionality and 17 in regulatory quality.
Regarding poverty, Paliza reported that food insecurity has decreased from 8.3% to 4.6% in the last four years, with a commitment to continue reducing this figure in the next period.
Paliza announced that the 45th Council of Ministers and Directors will be held on November 6, Constitution Day, at the San Cristóbal Governorate.
Cover photo: José Ignacio Paliza, Minister of the Presidency. Credit: Diario Libre.
