Economy April 24, 2019 | 7:32 am

Electricity the main hurdle to Dominican Republic’s growth: IDB

Santo Domingo.- The Inter-American Development Bank (IDB) labels the electricity system’s deficiencies as severe and represent one of the main structural hurdles to the country’s growth.

The situation, the IDB says, undermines the productivity and competitiveness of Dominican Republic’s economy and that solving the problems in that sector would lower production costs, “so that the level of general employment could increase,” says the report.

The conclusion figures in a complementary document to the Macroeconomic Report of Latin America and the Caribbean 2019 “Building opportunities to grow in a challenging world.”

“It is necessary to invest in the expansion and maintenance of electrical distribution networks and installation of meters, and in the management and operational improvement of the EDEs (distributors),” indicates the report that includes a diagnosis on the Dominican land and maritime transport which are “costly and inefficient.”

“The issue of cartelization of prices by unions that handle 80% of land routes and the lack of infrastructure for checks and cold chains in ports affect costs.”