President Luis Abinader warned thatthat it is impossible for the Government to continue with subsidies to keep down fuel prices, which last year cost more than 13 billion pesos.
“It is impossible to continue with that. If they continue (increasing the oil prices) the time will come when we will have to talk to the country ”, said the first president.
Abinader admitted that, even with his optimism about the performance of the Dominican economy for this year, his most important concern is the price of oil for this year, which is “transversal to the entire economy.
Regarding the inflation that affects all the countries of the world, Abinader said that “we are the only country whose currency appreciated”, and that all inflation is exogenous, that is to say that it comes from outside, but the Creole production has had an increase in all the senses.
Abinader cited experts who say “that from the second half of this year the prices of raw materials will stabilize.”
The subsidy of 1,600 million pesos that the Government granted to fertilizers ends next March.
