Official announces fertilizer subsidy to protect food, keeps LPG prices unchanged and reinforces protection of social programs to cushion the impact of the international oil crisis.Santo Domingo. – President Luis Abinader firmly assured this Sunday that the Dominican Republic is prepared to face the economic consequences derived from the war in Iran, while listing the measures that the Government is implementing to cushion the impact of the rise in international prices of oil, fuels and some foods.
“And given this situation, we have set three fundamental objectives that I want to share with you: Firstly, to maintain macroeconomic, fiscal, and social stability at all costs. To this end, we will continue to protect the most vulnerable households, strengthening social programs and reallocating resources from less priority items. We have already identified nearly 10,000 million pesos that can be allocated for these purposes without increasing total spending,” he communicated.
Secondly, he said, we are monitoring the prices of food and agricultural inputs and will again implement a subsidy for fertilizers, for an initial amount of 1,000 million pesos, to keep their prices at what they were before the crisis. In this way, to prevent the international increase in fertilizers from translating into higher food prices for Dominican families.
And, thirdly, he pointed out, we will seek to sustain public investment as a driver of economic growth, even in this complex international context. We know that the situation cannot determine or deteriorate our future.
Through a message addressed to the Dominican people, broadcast on the national radio, television, and digital platforms, he explained with clarity and responsibility the economic implications of the war in Iran, a topic that currently worries the entire world.
“Let me speak to you frankly, but also with serenity. Without dramatics, but without evasions. As one speaks when a country needs to clearly understand the moment it is living.”
After highlighting that today the country has a stronger economy, with more prepared institutions and with tools that allow acting quickly to cushion any impact that may arise, the Head of State announced that the Government has already activated all the mechanisms to monitor daily the evolution of international prices and anticipate any impact on the economy.
