The Dominican Republic Industrial Association (AIRD) estimates that in the first quarter of this year there has been a 15% to 20% reduction in sales in the sub-sectors of the national economy, and the construction sector has been worst affected. According to AIRD president Ligia Bonetti, this is the result of the application of the tax reform, which was aimed at reactivating the national economy.
“There has been a deceleration of the economy this first quarter, we have all felt it and it is obviously the result of the tax reform, but the government is working on ways of reactivating the economy and creating specific policies,” she stated at the Presidential Palace yesterday, Monday 15 April, after meeting with the Administrative Minister of the Presidency, Jose Ramon Peralta. Bonetti warned that some sectors have been worse affected than others and that if this slowdown in sales continues the situation could start to cause layoffs of private employees. With this stance, the industrialists are joining the Dominican National Brewery, which pointed out last week that the tax reform has caused a drop in sales of their product (beers) of nearly 20%.