Entrepreneurs and merchants trust the economic recovery will be maintained in 2021

César Dargam and Ricardo Rosario assess measures to keep productive sectors afloat

Business people and merchants in the Dominican Republic expect the economy to continue its growth rate for the second half of 2021, despite the health crisis hitting the world. That has generated serious disruptions in the local economy and external factors that influence directly over the country.

The executive vice president of the National Council of Private Enterprise (Conep), César Dargam, considers that tourism and MSMEs have been the hardest hit by the pandemic, which has affected their development and growth.

“However, we remain optimistic that the Dominican Republic will maintain the rate of economic growth that has so far shown above 5.5% of gross domestic product (GDP) with the creation of jobs, increased exports and the attraction of more investment,” Dargam assured.

For the vice president of Conep, the economic recovery during this second semester will depend, to a great extent, on the success of the vaccination process and compliance with health measures.

Likewise, the former president of the National Federation of Merchants of the Dominican Republic (Fenacerd), Ricardo Rosario, assured that the country had a good growth rate this year and that it has been interrupted by the new outbreak of coronavirus that the country is experiencing. currently.

“The government and financial authorities have taken the correct measures to boost the economy and generate more jobs, with assistance and financing programs for SMEs, which should be increased so that there is more money,” said the commercial leader.

Rosario recalled that accumulated inflation forces an increase in the minimum wage and an adjustment to the salaries of public and private employees, for which he understands that the government does not have the conditions at this time. Recommends that the authorities make the collection of taxes more efficient, reduce State expenses and face tax evasion.

“In a general sense, we understand that for the rest of this year the Dominican economy will go through adverse situations that will depend, to a great extent, on the success of the vaccination campaign carried out by the Dominican government. This would make it possible to resume economic activities that stimulate spending and generate more jobs, in addition to the increase in remittances that reach the country, which has represented a real relief for the Dominican economy.”

Another factor that business people and merchants have pointed out is the increase in the price of commodities and raw materials in international markets, which is directly reflected in the rise in food prices and almost all industrialized products within the DR.