President Louis Abinader He assured that if he had not subsidized 100% of the increase in fuels, inflation would have increased by 6% per year.
“Since the war began, the government has deployed a subsidy program for the protection of the working classes, as well as for the most vulnerable, of 42.8 billion pesos, especially for fuel, but also for rice, wheat and other products. To give you an idea, with all this money you could build 400 kilometers of highways”, he explained.
During the ceremony held at the Cibao TheaterSantiago province, the president assured that other measures have also been arranged to combat inflation and protect the country’s economy.
“Among them is the increase in the direct subsidy to the transport sector to avoid the rise in the price of tickets; and the subsidy of up to 10% on imports of corn, wheat, soy or flour and vegetable fat, as well as the application for 6 months of 0% to the tariffs of the most important products of the basic basket that momentarily the production national cannot cover”, he explained.
He added that the Government has maintained the policy of focused subsidies with the special programs of Inespre, with the installation of more popular markets throughout the national territory, doubling the warehouses for direct sale of products.
“The increase in transfers to the card improve yourselfthe increase in the Gas Bonus subsidy and the expansion of food rations in the Economic Kitchens, among others, for which we have allocated the sum of 14,540 million”, he indicated.
The president pointed out that within the framework of our mission to protect the most vulnerable, through the Supérate program, with an investment of more than 41,700 million pesos, it will benefit 1,650,000 families, with double what they received before the pandemic.
“We have achieved all of this without increasing the weight of the consolidated public sector debt with respect to our Gross Domestic Product and with a reduction in the debt of the non-financial public sector, which has dropped from 49.7% in August 2020 to 47.5% this month of June,” said Abinader.
He said that thanks to this, the Government has managed to keep inflation below the average for the region and also below many of the countries that are taken as an example and world reference.
