Experts will identify negative pressures that affect the process at THINK ECONOMICS
Santo Domingo.– Experts in the field economic and financial, will identify in THINK ECONOMICS “Next Generation Recovery”, the annual economic event organized by the Dominican Chamber of Commerce and Tourism (CCTDS), the opportunities and challenges for the macro and microeconomics, in the context of the end of the year and with forecasts for the next. This within the framework of the diversification and sustainability of the recovery of the different productive sectors.
Official projections expect the Dominican Republic’s GDP to grow between 9% and 10% by the end of 2021, thanks to the expansion of sectors such as commerce and tourism. Based on the positive indicators for 2022 from the International Monetary Fund (IMF), which projects a world growth of 4.9% and from the World Bank (WB) which foresees 4.5% in the local case, the specialists of this Virtual event, to be held in virtual format from 9:00 am to 12:00 pm, next Thursday, December 9, will analyze, among other aspects, the negative pressures that affect the global and local economic recovery process in 2022.
“The global economy is out of sync with the pandemic, restrictions and recovery. Factories in Western economies are eager for products that traditionally came from Asia, but this continent is still in the midst of coronavirus-related closures and restrictions. Meanwhile, global labor shortages, often as a result of people leaving the workforce during the pandemic, is putting further obstacles in the way of producers and shippers, ”says Gaetan Bucher, President of the CCTDS. .
According to the Kiel Institute for World Economy, a German think tank, world industrial production rose above its pre-crisis level in early 2021, but has since stalled and lowered its growth forecast to 5.9% from 6.7%, in part, due to problems with the supply chain and the increase in prices of commodities such as oil and its derivatives, as well as mineral coal due to its scarcity.
The experts will analyze in this edition of the event to which they have titled “Recovery of the next generation”, the growth forecasts for the Dominican Republic based on the management of President Luis Abinader and his Government team, on the strengthening of public-private alliances, the historical results of the tourism sector in the month of October, the revaluation of the peso in relation to the dollar, as well as the positive consequences of the package of measures that President Biden in relation to the increase in remittances and the injection for tourism.
“Dominican banks have a growth forecast. The recovery of private spending and national tourism, favored by the relaxation of restrictions, as well as the dynamism of investment in machinery and equipment would support these results. In addition, the implementation of large investments in the Public Private Alliance modality will be an additional element in favor of the growth of the Dominican economy ”, Bucher stressed.
The specialists will also discuss the energy transition as a factor for economic recovery. This, in the context of COP26 and its commitment to reduce the emission of greenhouse gases, with proposals such as having a base price of coal adjusted to the characteristics of the country, investment by the Administrations in green energy or financing promises of 100,000 million dollars annually for the conversion.
The event will be attended by Alejandro Fernández Whipple, Superintendent of the Superintendency of Banks of the Dominican Republic; Raúl Ovalle, Managing Partner of ANALYTICA; Steven Puig, CEO of Banco BHD León, HE Dr. José Sánchez-Fung, Ambassador of the Dominican Republic in Switzerland, Gaetan Bucher, President of the CCTDS; the Swiss Ambassador to the Dominican Republic, HE Rita Hämmerli-Weschke and a presentation by Credit Suisse in Zurich.
