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More money injected into the economy

The government is looking to boost the economy with the injection of new resources to boost construction, production and consumption. The actions are taken after the Gross Domestic Product has declined to 4%.

José Ramón Peralta, Administrative Minister of the Presidency, said on Sunday, 3 September 2017, that the government is making available RD$20 billion for infrastructure projects intended to stimulate the economy. This is in addition to the RD$20.4 billion that the Central Bank made available to financial entities for lending for housing projects, small and medium-sized companies and for the financing of motor vehicles.

The funds will be channeled through the ministries of Public Works, Agriculture, the Office of Supervising Engineers of State Works (a division of the Presidency), the Santo Domingo Aqueduct (CAASD), the National Institute of Drinking Water (INAPA), the National Institute of Water Resources (INDRHI) and the National Housing Institute (INVI).

Peralta expects the new works to create thousands of jobs across the country especially in the small and medium sized businesses linked to the construction business.

Source: Dr1, Eldia

Sep 5, 2017

Category: DR News |

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Last updated September 20, 2017 at 12:27 AM
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