It is no secret to anyone: the war between Russia and Ukraine it is beginning to be felt in economic terms in the West, specifically in the Dominican Republic. That is why the president Louis Abinader announced measures to mitigate the impact of the high prices reflected in different sectors.
One of them is that of the fuels. The nation’s president indicated that the Dominican government will once again subsidize fuel.
“Subsidize fuels with the parameter that as long as the price of the West Texas Index (WTI) is above US$85 dollars per barrel and below US$115 dollars, the Government will maintain the internal prices of hydrocarbons unchanged at the level of March 4, 2022”announced the head of state in a speech to the nation on Monday.
Any price movement above 115 dollars per barrel will be transferred to domestic prices, without the inclusion of the ad-valorem tax in their calculation, Abinader established.
With this measure, which would have an initial duration of 4 months, the Government would continue to assume a “permanent minimum fiscal sacrifice of at least between RD$600 and RD$1,000 million pesos per week, which would represent approximately between RD$2,400 and RD$4,000 million pesos. monthly or, what is the same, between RD$9,600 and RD$16,000 million pesos during its 4 months of application».
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Measures
Abinader announced the launch of 10 measures to deal with the economic crisis generated in the country by the war between Russia and Ukrainewhich include the urgent submission to the National Congress of a bill that will reduce to 0% the tariffs applied to products of the basic basket.
This measure proposed by the president would be applied provisionally for 6 months, and it would impact products such as refined oil, butter and margarine, powdered milk, edible fats and canned goods.
Likewise, at chicken, garlic, pasta, beans, flour, bread, and pork and beef.
These measures were announced by the head of state during a message to the entire country that was broadcast through various media, including radio and television channels, as well as the social networks of the Presidency.
“This is the moment to propose solutions, to assume sacrifices and, above all, to continue protecting the most vulnerable, who are the ones who suffer the most from inflationary processes such as the one that today affects the world economy and consequently the Dominican Republic” said the president.
