Questions on Central Bank policies
SANTO DOMINGO. The Budget Director warned that the monetary measures implemented by the authorities of the Central Bank, trying to control the exchange rate, will have a negative impact on the economic growth for the present year.
Economist Luis Reyes said that a lower growth of the economy would result in a reduction of the tax collections by the government, and would complicate the handling of the fiscal policies in reference to the goal that they established in the Law of Public Expenditures.
Reyes, who is also a deputy minister of Hacienda said that clearly the monetary policy adopted by the Central Bank goes in the direction of reducing growth in order to adjust imports to lower levels and as a consequence remove pressure on the exchange rate.
Interviewed by Hector Herrera Cabral on the program D’Agenda which is transmitted each Sunday by Telesistema, channel 11, the official said that he thinks that the measures adopted by the monetary authorities are due to important pressures on the levels of the international reserves.
He added that in personal terms what most attracted his attention was the size of the adjustment, and not the direction of it.
march 16, 2015
Category: DR News |