SANTO DOMINGO.-The Dominican Republic had during the year 2022 income from the Central Administration for RD$955,996.5 million or 15.3% of the gross domestic product (GDP) estimated for the year, according to the Minister of Finance, Jochy Vicente, who offered macroeconomic data together with the president Luis Abinader and the Minister of Economy, Pável Isa.
Of this amount collected, the General Directorate of Internal Taxes (DGII) collected RD$656,822.6 million and Customs RD$230,911.1 million, 8.1% and 20.3% more, respectively, compared to the year 2021.
Regarding spending, Vicente emphasized that the execution was focused on supporting the strengthening of the productive fabric, strengthening the social protection policy, fighting inflation and alleviating the ravages caused by atmospheric phenomena. The total disbursements of the central administration reached RD$1,174,017.3 million, equivalent to 18.8% of the estimated GDP for the year.
subsidies
As part of the Government’s strategy to contain inflation, RD$85,922.1 million were allocated to cushion the rise in mass consumption products such as fuel, food, transportation, expand targeted social programs, and support operations in the electricity sector and agricultural production. .
The Minister of Economy highlighted that in 2022 the share of investment in GDP was 35% higher than between 2011 and 2020, and said that the drive for investment and the optimism of small and large businesses in the solid economic growth of the country, around 5%.
new jobs
Minister Pável Isa assured that employment continued to grow, since between the third quarter of 2021 and the third quarter of 2022 more than 51,000 jobs were created in the formal sector.
He indicated that unemployment rates have been reduced notably and noted that between the first nine months of 2021 and 2022 the open unemployment rate fell by 2 percentage points and the unemployment rate increased by 2.8 points.
it gives us the money
President Luis Abinader expressed that capital investment this year is around 2.5% of GDP, which shows that it is not true that less is being invested.
He said that money yields more to his government and that is why works are being built in each province, and he said that the works that are being done in Pedernales and Manzanillo are not mega works, but mega transformative projects for those demarcations and for the country.
Abinader specified that the Los Alcarrizos cable car and several ring road avenues will soon be inaugurated.
economic management
—1— Policies
Abinader indicated that the country has grown more than other countries because correct economic policies have been applied.
—2—Investment
He said that they have brought certainty to investors so that they come to the country and that is why there are record figures in foreign investments.
Abinader emphasizes that he has lowered the public debt
decades. President Luis Abinader reiterated that money pays off for his government and is better invested, for which he assured that for the first time in the last 25 years a management has lowered the level of debt in relation to the gross domestic product (GDP), when the opposition said that now they have the highest debt.
“We are the ones that have delivered the most homes, we are building a number of important works, which obviously, in two and a half years, as soon as the design arrives, because we cannot build as it was done before, which was done without tenders,” said the president.
Abinader emphasized that no management had started major works of importance for the country like the one he heads.
