The President of the Dominican Republic, Luis Rodolfo Abinader announced this Tuesday in Davos that his government has decided to subsidize the price of corn to prevent the increase in the price of chickena staple food for the population of that country.
On a panel in Davos World Economic Forumin which he participated together with the presidents of Colombia and Costa Rica and the vice president of Peru, Abinader said that in the next few hours the Ministry of Industry and Commerce will communicate this decision.
Subsidy for more than RD$1,200 million for chicken, bread and pasta announced
He explained that in the same way Wheat has been subsidized for two weeks and fertilizers since last September, two products whose prices have skyrocketed due to the impact of the war in Ukraine.
“After the war and with the increase in raw materials we have had to opt for subsidies,” he explained.
«We have made a combination of a special financing. We have doubled the financing of the agricultural sector and for the first time in twenty years we do not have to import ricewe have an overproduction of bananas and a record production of chicken”, commented the president.
The impact it has had on the world war in ukrainedue to the increase in the price of raw materials, will cause the Dominican Republic to increase its fiscal deficit, he said.
Abinader: The way to support the people is by betting on the growth of the economy
“Although it will be below the projections we had last year,” said the president, who indicated that this has already been communicated to international financial organizations.
