Pavel Isa Contreras, the economics professor and researcher-turned Minister of Economy, Planning and Development, noted last week that government investments have accelerated to RD$27.13 billion in the first half of 2022. Minister Isa Contreras says the government has carried out 40% of the planned spending in the first half of 2022 with a huge increase in public investment, especially compared to the past two years. According to Isa Contreras, government capital spending is now on a par percentage-wise with 2018, 2019 and 2020.
Most of these government projects are in the areas of health, education, transportation, and communications. The economist noted that his ministry is paying close attention to the social welfare benefits of these projects and programs.
Pavel Isa noted that inflation is slowing down. The other good news is that the price of crude oil is lower. Contreras Isa says that if the government had not subsidized such things as fuel and food staples, there would have been an inflation rate of up to 16% instead of the 7% currently estimated.
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Ministry of Economy
Diario Libre
22 August 2022