Day: November 15, 2021

Budget Director: “The economic recovery in the Dominican Republic is a reality”

Rijo Presbot participated as a speaker at the International Public Budget Seminar and highlighted economic growth of 12.71% despite the Covid-19 pandemic. “Budgetary Effects of the Pandemic on Health Systems, the Economy, and Education” was the central theme of the 48th International Public Budget Seminar, in which the Director General of the Budget, José Rijo Presbot, participated as a guest speaker. During the virtual event, organized annually by the International Public Budget Association, Rijo Presbot emphasized the efforts of President Luis Abinader's administration to reactivate the Dominican economy and tourism, recover jobs, and boost productive sectors despite the pandemic. Rijo Presbot stated that the cost of the pandemic's effects was the most significant factor impacting the economy, amounting to approximately US$18 billion, equivalent to 23.41% of the Gross Domestic Product (GDP). He also stated that the GDP contracted by 6.71%, a situation that resulted in between 400,000 and 500,000 unemployed, with the productive sectors being the most affected. “With the pandemic, the effort we have had to make has truly been significant, but a comprehensive plan has been developed that, for us, represents the peak of recovery that the Dominican Republic has achieved,” he noted. He also praised the government's investment in healthcare, particularly in the National Vaccination Plan, the provision of supplies, the establishment of intensive care units and treatment centers, and the creation of a nationwide network of over a thousand centers staffed by volunteers. “The entire vaccination plan is what has allowed the Dominican Republic, as of October 30, to boast a tourism level of 4.8 million foreign visitors, and this investment in health has enabled approximately 621,000 people in the population to receive two doses of the vaccine, and of those, more than 201,000 have received three doses. This gives us a greater opportunity to reopen the Dominican economy,” stated Rijo Presbot. According to the Budget Director, and based on the latest study by the Ministry of Economy, Planning and Development (MEPyD), “as of September, the economy had registered an increase of 12.71% (TP3T). Furthermore, productive sectors such as hotels, bars, and restaurants have responded with a growth of 31.81% (TP3T) between January and September; construction has grown by 301% (TP3T); the free trade zone by 241% (TP3T); infrastructure by 311% (TP3T); and commerce by 111% (TP3T). In other words, the economic reactivation in the Dominican Republic is a reality.” Regarding education, Rijo Presbot highlighted the continuous and committed effort in support of education, noting that a virtual, hybrid, and distance learning strategy was designed to salvage the school year. This strategy included providing technological equipment to students and contracting media outlets to ensure wider reach. “The effort of the entire educational structure to try to salvage the school year has been continuous and committed, from teachers to parents and friends of the schools,” he emphasized. Regarding the Seminar: The 48th International Seminar on Public Budgeting, organized by the International Association of Public Budgeting (ASIP), also included speakers from Uruguay, Panama, Guatemala, Argentina, Paraguay, Costa Rica, and El Salvador. ASIP, headquartered in Buenos Aires, Argentina, held this seminar virtually with an audience of officials and specialized technicians working in the areas of public finance and budgeting. This year, the central theme was addressed by the speakers from the perspective of ASIP's member countries.