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Young business leaders blame wages of “misery” on low productivity

Santo Domingo.- The young business leaders grouped in ANJE on Thursday blamed the country’s low productivity for the low wages that many sectors call a “misery,” noting that comprehensive structural reforms are needed to jumpstart the economy.

“For ANJE the current Dominican real wage growth stems from our economy’s lost productive capacity or from the absence of comprehensive structural reforms and the foundations needed to revive the productive activity,” said ANJE president Frank Elias Ranieri.

He proposed focusing efforts on structural reforms on consensus in sensitive areas such as energy, taxes and labor market in adherence to the provisions in National Development Strategy (END).

He said the reforms are urgently needed to have a strong, competitive manufacturing and exporter sector, as the basis of an economy where the rules are respected and the Government maintains its regulatory role.

Rainieri said END’s agreements and reforms need to a priority to start forming part of the government’s agenda, “to see the business sector responding favorably to expanding investment, which translates into greater economic growth and naturally into formal employment benefits and better wages for the population.”

ANJE’S statements respond to a Central Bank analysis on the slow growth of Dominican Republic’s wages, as the main cause of the country’s poverty.

Source: DT

Category: DR News |

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Last updated March 24, 2017 at 2:14 PM
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