The Chamber of Commerce and Production of Santiago highlighted the robustness shown by the Dominican economy, which is reflected at a time when there is evidence of a gradual decrease of the COVID-19 pandemic.
The business institution supports its considerations in the Report of the Central Bank of the Dominican Republic and in its Continuous National Survey of the Labor Force (ENCFT), which establishes that the levels of employment, formal and informal, at the end of the year 2021, have reached levels similar to those of the pre-pandemic period.
Carlos Iglesias, president of the entity, said “we are highly satisfied with the employment levels and in particular, for the contribution to achieve this, shown by the construction, free zones, hotels and restaurants, commerce and transportation sectors”.
He also said that “it is necessary to highlight that, in order to reach these levels, the sectors linked to the health sector, as well as the production and commercialization of food, which have maintained or increased their operations during the pandemic, have played an important role”. He added that “reaching these levels of employment, as well as having achieved a Gross Domestic Product (GDP) growth of 12.3% are proof of the strength and diversity of the Dominican economy”.
The Santiago Chamber predicts that by 2022 the country will be able to ratify and consolidate the results of 2021, especially due to the efforts of the national authorities to maintain macroeconomic stability and the preferential position that the Dominican Republic has been occupying in the international context, especially in tourism and international investments.
In a press release, they highlighted the importance of formalization and business ventures. They also advocated for motivating new businesses and exports to help reverse the rate of public indebtedness that prevailed before the pandemic and which was increased to stimulate economic activity during the years 2020 and 2021.