DOMINICAN REPUBLIC

DOMINICAN REPUBLIC - In Brief 24 Nov 2021

Given the persistence of inflationary pressures beyond what was expected, the Central Bank today decided to raise the monetary policy rate from 3% to 3.5%, annually. With the decision, the interest rate of the permanent liquidity expansion facility (1-day Repos) also increases from 3.5% to 4.0%, ...

DOMINICAN REPUBLIC - In Brief 18 Nov 2021

The government sent to Congress a second amendment to the Public Budget for 2021. The amendment reflects a substantial improvement in the government's projected revenues for 2021, 8.3% higher than the amount projected in the first budget amendment for 2021. There is also a 1.4% increase in expend...

DOMINICAN REPUBLIC - Report 09 Nov 2021

After several weeks of indecision over whether to propose a tax reform, President Luis Abinader finally chose not to move forward, and indefinitely suspended discussions over the fiscal pact. This measure was widely accepted by both business and the public, with all sectors understanding that thi...

DOMINICAN REPUBLIC - In Brief 27 Oct 2021 1 response

In the long-awaited address to the country, President Luis Abinader announced that he will not submit a tax reform to Congress or increase taxes. He indicated that the only priority at this time is to consolidate the economic recovery and continue betting on growth and investment. The Government ...

DOMINICAN REPUBLIC - Report 12 Oct 2021 1 response

The probability that the Dominican economy will end 2021 with growth of close to 10% is increasing, given accumulated growth of 13% in January-August, compared to the same period in 2020. But not everything is rosy. Although formal employment has returned to nearly pre-pandemic levels, overall un...

DOMINICAN REPUBLIC - In Brief 11 Oct 2021 2 responses

A document from the Dominican government has been leaked to the press outlining the purposes of the tax reform that is expected to be formally disclosed in the next few days, and that so far has not been confirmed or denied by official bodies. In this document, the Dominican government lays down ...

DOMINICAN REPUBLIC - In Brief 28 Sep 2021

The Council of Minister approved yesterday that the General Public Sector Budget Bill for 2022 will have a deficit of 3% of GDP. The amount of income is projected in DOP871 b. and the total expenses and financial applications would amount to DOP1,046 b. The financing need would amount to DOP175 b...

DOMINICAN REPUBLIC - In Brief 21 Sep 2021

The Dominican government delivered at the last meeting of the Economic and Social Council on September 15, the document Dialogue of Reforms 2021: Introductory Document for Discussion, in which it roughly outlines the content of the 12 proposed reforms for discussion with the representatives of po...

DOMINICAN REPUBLIC - In Brief 16 Sep 2021

Yesterday, in the dialogue of the political parties called by President Abinader to agree on an agenda of 13 reforms, only the government's proposal on the constitutional reform was presented, leaving for the next meetings the presentation of the content of the remaining reforms, including the fi...