Central Bank and DR businessmen evaluate economic situation

The governor of the Central Bank (BCRD) Héctor Valdez Albizu and the board of directors of the National Council of Private Enterprise (CONEP), held a meeting about the economic situation and future prospects of the country.

At the meeting, the business representatives, headed by the president of CONEP, Pedro Brache, stated that “the confidence of the private sector is very high and we are convinced that with the support of the government and the management of the Central Bank we will be able to overcome the effects derived from the international economic and geopolitical situation”.

Brache emphasized that the Dominican Republic currently presents a very favorable outlook despite the convulsive climate abroad, due to factors such as “the rate of attraction of foreign direct investment, the behavior of the tourism sector, the balanced and sustained value of our currency, the income from remittances from the Dominican diaspora and the strength of the free trade zones”, among others.

On his side, Valdez Albizu highlighted the “estimable valuation from other countries of the region and international organizations regarding the economic development, macroeconomic and fiscal policy of the Dominican Republic”.

“To the point of constituting a point of reference and consultation for institutions interested in implementing measures such as those that have been implemented in our country,” he added.

He praised the role of the Dominican private sector, which today contributes more than 85% to the nation’s growth.

Valdez Albizu presented to CONEP the most recent data on the behavior of the Dominican economy, “offering a comparison with Latin American countries to show the strength of the fundamentals reflected in our nation’s performance,” according to a release.

“Reason why we are being a point of attraction of foreign direct investment, especially in the tourism sector that has captured about 30% of this investment during the last few years,” he said.

He pointed out that the Dominican Republic is an economy on which one can bet since it has strong macroeconomic fundamentals and social and political peace, which are the essential elements to continue attracting foreign direct investment.

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