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According to the Budget Director, the fuel subsidy helped reduce inflation by more than 10 percentage points.
The Director General of the Budget, José Rijo Presbot, explained that in 2023 the Government allocated 35 billion pesos to the gasoline subsidy due to the rise in international oil prices, a result of the war between Russia and Ukraine, in order to mitigate the impact it could have on citizens' wallets.
During an interview on the program “Extra EncounterIn the program "," hosted by Cristhian Jiménez and broadcast on Color Visión, Rijo Presbot indicated that the fuel subsidy allowed for a reduction in inflation of more than 10 percentage points.
“If we hadn’t allocated 35 billion pesos just to fuel subsidies, inflation would have reached 17.81% per 100,000 pesos, and instead, we ended up with 7.31% per 100,000 pesos, thanks to the restriction and control of public spending,” Rijo Presbot stated; and added that, as an evaluation, the Dominican Republic is an example for other countries in the face of the crisis.
Rijo Presbot also believes that citizens trust this administration because of President Luis Abinader's honesty, management skills, and follow-through on public policies. "There is confidence among the population that we are improving because the government has shown a strong commitment to addressing challenges and improving the quality of spending."
In his appearance on the morning program, Rijo Presbot also explained that the Fitch Ratings agency maintained the Dominican Republic's outlook and reaffirmed its rating from BB- stable to BB- positive, due to the country's economic growth. "Last year, the rating agency improved the country's outlook, changing it from stable to positive," he confirmed.
Rijo Presbot emphasized transparency and reiterated that thanks to this administration, the administrative debt from previous years has been eliminated. “No official can authorize an expenditure without a certification of appropriation, and we included a clause stipulating that anyone who does so will be personally liable for it.” He also noted that efforts are underway to continue making processes more transparent.
Right to Know and Budgetary Transparency
The Director General of Budget reported that, as a contribution to budget transparency, the weekly Budget Execution report has been published every Tuesday for the past three years without fail on the Digepres website. Digepres.gob.do and through social media @DigepresRD
Every Tuesday, the availability of this report, which is produced weekly and for the first time in the history of the Budget, is announced through the institution's social media channels.
