Economy August 29, 2023 | 8:09 am

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Experts deny Dominican economy is stagnant

Santo Domingo.- Economists Arturo Martínez Moya and Antonio Ciriaco Cruz have offered contrasting views on the current state of the Dominican economy. Martínez Moya asserts that the economy displays remarkably positive indicators compared to previous years, citing robust improvements in international reserves, job creation, and inflation control. He emphasizes that these indicators must be evaluated in relation to past performance to accurately gauge economic progress. Moreover, he highlights that the Dominican Republic stands out in the region for successfully managing inflation.

On the other hand, Antonio Ciriaco Cruz, the economist and dean of the Faculty of Economic and Social Sciences at UASD, expresses that the Dominican economy is undergoing a slowdown process. He notes that during the first half of the year, the economy grew at an average rate of 1.2%, and there’s evidence that the unemployment rate has increased from 4.8% to 5.2% during the same period.

Ciriaco Cruz explains that if this trend continues, the open unemployment rate could reach 6.0% by the end of 2023. He points out that achieving this year’s growth target of 4.0% would necessitate an economic growth rate of around 6.7% for the remaining months, presenting a significant challenge for economic authorities. He reiterates that the national economy is currently decelerating, with a growth rate substantially below its potential rate of 5.0%.

These differing viewpoints reflect ongoing debates about the true health and trajectory of the Dominican economy.

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Deivy Campusano
August 29, 2023 2:47 pm

Increase exports and enlarge the labor force, this will reduce unemployment.

bernie sierra
August 30, 2023 4:56 pm

The economy is not doing good. There is no money on the streets and with interest rate so high it is only going to get worse. If the economy was so good then why the central bank would be releasing over 120 billions pesos to jump start the economy last month.

mike teicher
August 30, 2023 9:45 pm

the DR is learning about propaganda from the chinese, fabricate reality