Former general manager of the Central Bank, Apolinar Veloz, claimed that Central Bank governor Hector Valdez Albizu is lying to the nation about the economic growth of the country. In a radio interview for El Gobierno de la Mañana he said politics is prevailing, not an independent analysis of the situation. He called the continued taking on of debt by the government unsustainable.
“The Dominican economy grows with the public deficit, the Dominican economy grows with a deficit in the balance of payment, the Dominican economy grows with insufficient national savings to finance its investment,” he stated. He said that now the only way the Dominican economy can grow is by taking on more debt to finance all those deficits.
He estimated the non-financial public debt at around US$35 billion but said the information is not all available.
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Z101
19 July 2018
