Governor of the Central Bank Héctor Váldez Albizu says inflationary pressures are easing off. Speaking to the attendance of the XV International Congress of Finance and Auditing (CIFA), organized by the Association of Multiple Banks of the Dominican Republic (ABA) and the auditing and consulting firm BDO, Governor Valdez Albizu said that inter-annual inflation was lower in May and June than in April. He forecast the trend is expected to continue for the rest of the year. He says inflation should converge to the Central Bank’s target range of 4.0% ± 1.0% during 2023.
Valdez Albizu commented that the year would close with the country becoming the seventh largest economy in Latin America. He said the economy should grow 5.0% both in 2022 and 2023. Likewise, he said that the consolidated public sector debt was also on a downward trend, dropping to 62.6% of GDP down from 69.1% of GDP in 2020.
Váldez Albizu closed his remarks at the congress, stressing that the Dominican economy will continue its dynamism, generating more and better jobs for Dominicans, encouraging consumption and creating new investment opportunities.
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N Digital
27 July 2022