President breaks ground on the Plaza de la Cultura and the Gold Museum in Cotuí; Plus Ultra airline begins Madrid-Santo Domingo route with three weekly flights; Government maintains subsidy to curb fuel price increases; Luis Abinader: Tax revenues have been key to maintaining subsidies; Deputies are concerned about the situation affecting Líneas Aéreas Dominicanas; As of yesterday, it will only be "Banco BHD"; Government begins paving plan in La Altagracia with an investment exceeding 200 million pesos; Loan interest rates may be between 15 and 17%; The electricity tariff adjustment reflects a 48% increase for some customers.
President breaks ground on construction of the Plaza de la Cultura and the Gold Museum in Cotuí
President Luis Abinader inaugurated the construction of the Plaza de la Cultura and the Gold Museum this Friday in the municipality of Cotuí, Sánchez Ramírez province. Francisco Sánchez, of the Cotuí Procultura Foundation, said that both projects were created with the purpose of promoting Dominican culture and heritage, so that new generations can learn about their history.
Plus Ultra airline begins Madrid-Santo Domingo route with three flights a week
Spanish airline Plus Ultra inaugurated the Madrid-Santo Domingo route yesterday, Friday, which will have three flights a week and will join another weekly flight offered on Sundays through the tour operator Soltour, from the tourist province of Samaná to Madrid, specifically at the Adolfo Suárez Madrid-Barajas terminal.
Government maintains subsidy to curb fuel price increases once again
The Dominican government announced yesterday, Friday, that it will maintain the extraordinary fuel subsidy with an amount of 1.472 billion pesos to curb price increases in all hydrocarbons during the week of July 2-8.
Luis Abinader: Tax revenues have been key to maintaining subsidies
As part of his agenda in Sánchez Ramírez province, President Luis Abinader inaugurated the new office of the General Directorate of Internal Taxes ( DGII ) in Cotuí. There, he congratulated the authorities, noting that by maintaining high levels of tax collection, the government has been able to keep inflation below the regional average. “This sound management has allowed us to meet the needs for these subsidies, which are currently necessary to keep inflation below the average of Latin America and many European countries,” he stated.
Members of Parliament are concerned about the situation affecting Dominican Airlines
The Standing Committee on Economy, Planning, and Development of the Chamber of Deputies met with representatives of the Dominican Association of Airlines (ADLA) to discuss a bill that would provide financial assistance to airline passengers. Committee Chairman, Representative Francisco Solimán, indicated that the bill, proposed by his colleague Dolores Fermín and other legislators, aims to alleviate the current high cost of air travel.
As of yesterday, it will only be "Banco BHD"
As of yesterday, Friday, it will be known simply as Banco BHD. The financial institution's name change coincides with its 50th anniversary month. "Our logo has been refreshed, and we are launching a new institutional campaign that expresses our purpose of driving human progress by providing responsible, innovative, and customer-focused banking," the company stated in a press release.
Government begins paving plan in La Altagracia with investment exceeding 200 million pesos
The Dominican government, through the Ministry of Public Works and Communications, has begun the first phase of a road paving project in the municipality of Higüey, La Altagracia province. Luis Bastardo, Vice Minister of Public Works, stated that the project represents an investment of over 200 million pesos, which was requested from the president during a meeting with the Federation of Neighborhood Associations.
Loan interest rates can range between 15 and 17%
The recent increase in the monetary policy rate (MPR) announced by the Central Bank to reduce liquidity in the financial market and control inflation will be reflected in the coming months in both passive and active interest rates, as well as in government bonds. Economist Antonio Ciriaco Cruz stated that for the next three months, the average active interest rate (on loans) could be between 15% and 17%.
The electricity tariff adjustment reflects a 48% increase for some customers
Amid complaints about high energy bills, users have received a new tariff adjustment announcement, reaching 9% for the July-September quarter. This adjustment corresponds to the gradual elimination of the electricity subsidy, which, although planned, has surprised some users, who have expressed their dissatisfaction. Users consuming between 300 and 700 kilowatt-hours will see an average increase of 435.41 pesos. Meanwhile, those consuming between 800 and 1,000 kilowatt-hours will see an average increase of 918.84 pesos. This is just the quarterly increase. However, when analyzing the total elimination of the subsidy, residential customers consuming in the 0-200 kWh sub-block have been the most impacted, with an accumulated increase of around 48% compared to October 2021.
Source: Diario Libre, Hoy, El Dia, Listín Diario.
