The Minister of Economy, Planning and Development, Pavel Isa Contreras, said that the Dominican Republic has the challenges -in the context of the post-pandemic recovery of productive activity- of reducing the rate of unemploymentincrease formal employment, lower inflation and reduce the poverty rate.
Isa Contreras described the factors that from 2021 contribute to the recovery of the economy. Specifically, she pointed out that 61% of economic growth last year was explained by gross capital formation and practically more than 95% is private investment.
He highlighted that the investment coefficient (gross capital formation/GDP) remained above 30% throughout 2021. He indicated that final consumption explains 38% of real economic growth.
The Minister of Economy offered his statements when participating in a conference lecture on the economic prospects of the Dominican Republic for the second half of 2022, organized by the Chamber of Commerce and Production of La Vega. The event was led by Irlonca Tavarez, president of the Vega Chamber of Commerce.
“As a Chamber of Commerce we feel committed to putting on the table the issues that are crucial for our development. One of the actions that link our strategic axes for the integration and productive activation of La Vega is precisely the business lunch,” said Irlonca Tavarez.
The meeting was also attended by the authorities of the area such as the mayor of the municipality of La Vega, Kelvin Cruz; Luisa de La Mota, provincial governor of La Vega; Ramón Rogelio Genao, senator from the province of La Vega; Vladimir Viloria, president of the council of coraavega; Joel Martínez, secretary general of the vegan mayor’s office; Sachenka Reynoso, director of the MIC in the province; Omar Beato, president of the Association for Development, among others.
About the Chamber of Commerce and Production of La Vega
The Chamber of Commerce and Production of La Vega, Inc., is an autonomous and private non-profit institution created under Law 50-87, regulated within the framework of Law 122-05 on non-profit institutions. Since its foundation in 1908, it has been dedicated to fostering the development and stability of economic activities, and offering support services to trade, the agricultural sector and industry in our province.
