Hoy newspaper reports that the recent price increases and government measures have had an unmistakable effect on the economy in general. The newspaper estimates that sales of imported goods are down 75 percent, as Dominicans are reticent to spend at a time when inflation is skyrocketing, and price increases of all items take place daily.
Franklin Nu?ez, secretary of the Dominican Association of Customs Agents, says that imports had already begun to decline in December, but that following the announcement of the 10-percent surcharge, imports have dwindled to a bare minimum.
The newspaper also says that suppliers are having trouble getting paid. With the drop in sales, those who have sold on credit are also having collecting payment.
There are some positive side effects; traffic is significantly down in Santo Domingo, making it more pleasant to drive.