Government has mitigated the effects of inflation, says Yayo Sanz Lovatón

Santo Domingo.– The Dominican government affirmed this Friday that it continues to strengthen its strategy to face the international economic crisis by incorporating proposals that have emerged from the meetings it holds with different sectors of society. After a meeting with representatives of the evangelical community, the Minister of Industry, Commerce and SMEs, Eduardo “Yayo” Sanz Lovatón, highlighted that the measures adopted by the Executive have allowed the country to overcome the effects of the global situation, marked by the war conflict between the United States and Iran. The official assured that, despite the international landscape, the Dominican economy registered growth above 5% in March, a figure he described as a positive sign of the national economic performance.

"Within this crisis, the plan is working; we have been able to alleviate inflation, grow, and protect the country's productive fabric," expressed Lovatón.

He also emphasized that March became the month with the highest exports in the history of the Dominican Republic, which, he said, demonstrates the response capacity of the local economy. Lovatón insisted that the authorities act with prudence in the face of a changing international scenario, especially due to the volatility of oil prices, and maintained that the country has managed to overcome "many vicissitudes" in recent weeks. For his part, the Minister of the Presidency, José Ignacio Paliza, explained that the consultations carried out with different actors have generated new ideas that complement the strategies already designed by the Government.

You can also read: Dominican government strengthens dialogue with churches

He indicated that one of the suggestions received was to reinforce the financing mechanisms aimed at small and medium-sized enterprises, the agricultural sector, and export structures, a measure that is already being applied.

"In each meeting we get additional insights that call us to stop to incorporate them, work on them, improve them or, at least, consider them," he stated.

The governmental commission, created by provision of President Luis Abinader, has held at least five meetings to date with business, political, union, social, and religious sectors. The authorities announced that next Monday a new meeting will be held with representatives of the union leadership, as part of the open dialogue process to continue defining actions in the face of the international economic scenario.