MP: Lisandro José Macarrulla bribed with RD$17 million to secure over RD$1.298 billion in construction contracts; Fifteen Caribbean countries showcased opportunities to a delegation of investors from Saudi Arabia; 76% of financial transactions carried out through May were through digital channels; the financial sector shows healthy indicators, according to the Central Bank; for 2023, the Government projects a fiscal deficit of 3.1% of GDP; the Government allocates RD$1.08 billion to absorb fuel price increases again; the Dominican Republic reaches an agreement with Jamaica allowing Dominican airlines to operate flights between the two countries; passengers and employees at AILA complain about escalator service interruptions; the IMF report highlights spending rationalization and measures taken by the DGII; President Abinader meets with ministers and directors at the National Palace.
MP: Lisandro José Macarrulla bribed with RD$17 million to secure more than RD$1,298 million in construction work
In the voluminous 12,275-page file against the defendants in Operation Medusa, the Public Prosecutor's Office alleges that Lisandro José Macarrulla Martínez, through the company Mac Construcciones SRL, conspired with officials from the Attorney General's Office to embezzle 17 million pesos from the State. These funds were allegedly delivered to Mac Construcciones SRL to secure the contract for Lot 5 of the La Nueva Victoria prison, for an amount of one billion two hundred ninety-eight million two hundred ten thousand eight hundred ninety-four pesos and forty cents (RD$1,298,210,894.40), plus an addendum of slightly more than 75 million pesos, for a total of one billion three hundred seventy-three million two hundred twenty-four thousand five hundred twenty-one pesos and sixty-four cents (RD$1,373,224,521.64). Of that gigantic sum, Mac Construcciones SRL received seventeen million above the amount calculated, defrauding the State with said sum, and the payments were made by Macarrulla Martínez to Rafael Stefano Canó Sacco, "so that he in turn would deliver it to the accused Jean Alain Rodríguez Sánchez," the accusation states.
Fifteen Caribbean countries showcased opportunities to a delegation of investors from Saudi Arabia
Representatives from 15 Caribbean countries showcased their strengths and projects to the largest delegation of Saudi Arabian investors ever to gather in the region, at the "Caribbean-Saudi Investment Forum: Towards a New Era of Partnerships for Socio-Economic Development." The event was attended by more than 230 national and international delegates.
76% of financial transactions carried out through May were through digital channels
Digital channels have become essential for marketing and paying for services in the country. Their features allow users to save time, while enabling businesses to streamline their sales process and leverage technology to create promotions and attract customers at a lower cost. According to the Central Bank, in May of this year, 1,110,145 users were registered as using their cell phones for financial transactions, an increase of 7% compared to the 1,039,467 who used them in the same month of 2021.
The financial sector shows healthy indicators, according to the Central Bank
Financial intermediation activities showed a year-on-year increase of 6.5% between January and May 2022. This performance was driven by a 14.2% year-on-year expansion of credit granted to the private sector as of the end of May 2022, equivalent to an absolute increase of 188,233 million pesos channeled through financial intermediation entities, the Central Bank reported yesterday. The institution published its monthly economic activity report (IMAE), highlighting the performance of the financial sector. This followed the Central Bank's decision in March of last year to release reserves in local currency amounting to 30,133.4 million pesos, equivalent to 2.7% of the required ratio, and in foreign currency amounting to 222.4 million dollars, equivalent to 2.5%, as a means of channeling new loans to various productive sectors and households affected by the COVID-19 pandemic.
For 2023, the Government projects a fiscal deficit of 3.1% of GDP
Given the international outlook regarding inflation and the Russia-Ukraine conflict, the government will work to keep the fiscal deficit at 3.1% of Gross Domestic Product (GDP) for 2023. This figure is slightly higher than the 3% projected for this year. Regarding the tax burden, the projection is 14.7% of GDP.
Government allocates RD$1.08 billion to absorb fuel price increases again
The Government announced yesterday, Friday, that it will maintain hydrocarbon prices at the level of March 4 of this year, for which it has allocated, for next week only, an extraordinary subsidy of 1.08 billion pesos, according to the Deputy Minister of Internal Trade, Ramón Pérez Fermín.
The Dominican Republic reaches an agreement with Jamaica allowing Dominican airlines to operate flights between the two countries
The Dominican Republic has obtained authorization from Jamaican authorities for Dominican airlines to operate direct commercial flights between the two countries. The Dominican ambassador to Jamaica, Angie Martínez, stated that "the authorization to operate direct flights between the Dominican Republic and Jamaica represents a major diplomatic achievement for the Ministry of Foreign Affairs and a source of great satisfaction for the diplomatic mission.".
Passengers and employees at AILA complain about escalator service interruptions
Passengers and employees at Las Américas International Airport (AILA), José Francisco Peña Gómez, are complaining about the ongoing problems caused by frequent service interruptions on the escalator that provides access to the terminal's second level. The escalators, which have been in place at AILA for over 20 years, are no longer holding up, forcing technicians to take them out of service almost daily for repairs.
IMF report highlights spending rationalization and DGII measures
The rationalization of spending and the initiatives of the tax administration will contribute to maintaining a gradual fiscal consolidation and accentuate the downward trajectory of public debt more than initially projected, while protecting investment and social spending. This is stated by the International Monetary Fund (IMF) in its 2022 Article IV Consultation report, in which it projects that gross domestic product (GDP) will expand by 5% this year.
Abinader meets with ministers and directors at the National Palace
President Luis Abinader chaired an expanded cabinet meeting last night at the National Palace. The president entered the Cabinet Room shortly after 9:00 p.m., where he was greeted by ministers and directors of his cabinet.
Source: Diario Libre, El Día, Hoy, Listín Diario.
