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Santo Domingo.- Dominican Republic's national retailers grouped in Fenacerd on Monday revealed that sales climbed last year, and affirm it was thanks to the country's stability and growth.

In fact, Fenacerd  president, Ricardo Rosario, and vice president Julián Antonio Parra and Provisions Confederation executive Gilberto Luna expect a "much better 2017."

In separate statements, the retail leaders agree that numerous government initiatives such as financing for micro and small businesses at low interest rates led them to be more competitive.

Rosario reiterated that  the retail sector was very stable and grew in 2016, which prompted a jump in sales at fair prices. "For retail in general, there was a growth in sales during the last four months of 2016, so it had a lot to do with the increase in the flow of currency."

The business leader also stressed the climate of confidence achieved by the government, "which has attracted a number of foreign investments."

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2 comment(s)
Written by: chillinout, 3 Jan 2017 12:11 PM
From: Dominican Republic
Didn't the retail group say a week or two ago holiday sales were down double digits from the year previous and two years previous to it?

- Retail council- He said since the 2012 tax reform, families have been losing their ability to meet their needs, having to pay more taxes and still stagnant wages.

Cruz said despite the many people in the streets, businesses failed in their the estimated sales. "Most people used their 13th salary (Christmas bonus) to pay debts and simply bought the basics to spend Christmas Eve."

The business leader said every year the retail sales decline due to their losing purchasing power. "In 2013 was a loss of 8%, 11% in 2014, 13% in 2015 and 16% this year."

Written by: chillinout, 3 Jan 2017 1:44 PM
From: Dominican Republic
Retail sales per capita in DOM for 2016 were approx US$1000. US$8.2 billion reported Jan - Sept so estimate $11 billion for year.

In the USA retail sales per capita was US$15,600.
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