President of CODIA affirms there will be no real estate bubble, Abinader: Police will implement CompStat system, used by Rudolph Giuliani in New York, Dominican Republic needs support for consensus on tax reform, according to the World Bank, National Assets will hold an auction of vehicles and real estate, World Bank: “What matters is not the level of debt, but whether the debt yields benefits”, Abinader says he will not negotiate constitutional reform, daily tourist spending in the Dominican Republic is approaching pre-pandemic levels, CTN offers details of the 21st edition of “CTN Expo Fair 2022 Vacations”, Senate issues favorable report on the bill regulating public trusts, blackouts are due to the shutdown of two generators, say authorities, reelectionist slogan dominates Peña Gómez event
Presidentof CODIA affirms there will be no real estate bubble
The president of the Dominican College of Engineers, Architects, and Surveyors (CODIA), Dolores Núñez, denied the possibility of a real estate bubble in the country, stating that the construction sector is experiencing its best moment with a surge in private projects, despite rising material costs. He affirmed that the sector has been dynamic since the start of the Covid-19 pandemic in 2020 and that this dynamism remains even stronger at present. He highlighted that housing costs have increased by 30% due to inflation and rising construction costs. He added that the main inputs have increased by 60%. "Demand is high, and private project developers have continued working and are financing their projects through banks," he said.
Abinader: Police will implement the CompStat system, used by Rudolph Giuliani in New York
President Luis Abinader announced Tuesday that the government has implemented the CompStat system, which monitors crime not only nationally but also by sector. The CompStat system was first used by the New York Police Department during former Mayor Rudolph Giuliani's tenure and was later deployed throughout the United States.
Dominican Republic needs support for consensus on tax reform, according to World Bank
In the Dominican Republic, dialogue on tax reform is underway, but consensus is needed to reach an agreement that will promote social development policies for medium-term implementation, according to the World Bank Group (WBG). “The fiscal pact will be an instrument of legitimacy, enhancing the efficiency and equity of fiscal policy,” and, in turn, is an alternative for “addressing corruption,” the World Bank states in its Country Partnership Framework (CPFF) report, published two days ago.
National Assets will hold an auction of vehicles and real estate
The General Directorate of National Assets announced its first public auction of 2022, to be held on Friday, January 13. It will sell 66 houses and 85 lots of repairable vehicles, parts, scrap metal, furniture, and office equipment, all seized from public institutions. These institutions include the municipalities of Baní and Santo Domingo Oeste, the Ministry of Sports, CORAASAN (the water and sanitation company), and the Dominican Municipal League. The auction will take place at the Los Prados Club in Santo Domingo, starting at 9:00 a.m. The deadline to acquire the right to participate is Thursday, January 12, at 3:00 p.m., and bid documents can be obtained from the Auction Department.
World Bank: “What matters is not the level of debt, but whether the debt yields benefits”
You know, there are different types of debt. What's important isn't the level of debt, how high the debt is, but whether the debt you're incurring will yield positive benefits. So, what we're doing with the government isn't just financing, but financing for a good development outcome for the country and its people, and laying the foundations for future growth that addresses, for example, the negative impacts of climate change. So, if you look at it, we'll soon be providing $1.8 billion over these five years. It's to improve very basic infrastructure: electricity, water, and to help businesses, which will help households, which will help the most vulnerable. (…) So you have to look at the benefits of incurring that financing. Mari Pangestu, Managing Director of Development Policy and Partnerships at the World Bank, answering questions from DL about the country's debt.
Abinader says he will not negotiate constitutional reform
President Luis Abinader yesterday described as a "solemn absurdity" the idea that his government would negotiate constitutional reform with the Dominican Liberation Party in exchange for impunity in some judicial cases.
Daily tourist spending in the Dominican Republic is approaching pre - pandemic levels
The average daily spending of foreign visitors to the Dominican Republic has been gradually returning to pre-pandemic levels. While it was US$136.45 per day in the first quarter of 2019, it fell to US$128.47 in the same period of 2021, but rose again in 2022 to US$134.83, reflecting the post-pandemic tourism recovery. Similarly, the average length of stay improved compared to pre-COVID-19 levels. In the first quarter of 2019, it stood at 8.39 nights, and by the same period in 2022, it had increased to 9.38 nights.
CTN offers details of the 21st edition of "CTN Holiday Expo Fair 2022"
Executives from the tourism industry publication CTN announced details of the 21st edition of "CTN Vacation Expo 2022," a traditional event where Dominican families plan their vacations both within the Dominican Republic and abroad. During the press conference held in the Tempranillo Room at Cava Alta, Miguel A. Calzada León, president of CTN and Puro Turismo, emphasized that this year's event, dedicated to President Luis Abinader, will allow attendees to enjoy three days of the best vacation options with the most attractive offers on the market.
Senate issues favorable report on bill regulating public trusts
The Permanent Finance Commission of the Senateof the Republic, chaired by Senator Faride Raful of the National District, decided this Tuesday to issue a favorable report on the bill that establishes the applicable regime for the regulation of public trusts in the Dominican Republic.
Power outages are due to the shutdown of two generators, authorities say
The shutdown of two generators for maintenance is the cause of the recent blackouts, the Unified Council of Electricity Distribution Companies (CUED) reported yesterday, Tuesday.
Re-electionist slogan dominates Peña Gómez's event
Amidst evident jubilation and excitement from the guests, President Luis Abinader yesterday reopened the esplanade honoring José Francisco Peña Gómez, commemorating the 24th anniversary of his death. Community members took advantage of the occasion to chant slogans in favor of the president's reelection. Raising their arms energetically and making the sign of the number four, they chanted in unison, "Four more, four more, four more!".
Sources: Listín Diario, Diario Libre, Hoy, El Día
