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Yearend RD$12.0B injection jumpstarts the economy

Santo Domingo.- The Central Bank’s announced economic recovery reported in its latest monetary policy meeting is materializing with a fresh injection of around RD$12.0 billion starting this week with the of Christmas (13th) salary, a 20% deposit from the contracts awarded in drawings concluded Friday to build classrooms nationwide, and road repairs by the Public Works Ministry and other government agencies.

The government allocated more than RD$7.0 billion just for the 13th salary of its workers and pensioners, RD$3.0 billion for repairs of streets, roads and other minor works around the country and the disbursement of RD$2.7 billion which will arrive in the 28 provinces, where processes of drawings for 332 schools were completed. The total budget is RD$13.4 billion.

Quoted by, Presidency Administrative minister José Ramón Peralta attributed the economic momentum in the last three months of the year, mostly to the government’s incentive to the private sector.

He said the rebound of private sector credit signals productive sector confidence in the economy, which will also create jobs. “We believe that the Central Bank report that credit to the private sector is picking up, is a signal that brings tranquility to the economic agents and tells us that were on track.”

The official added that the drawing for works across the country is another measure which will positively impact local economies.

Source: Dominican Today

Category: DR News |

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Last updated October 26, 2016 at 10:54 PM
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