Yayo explains to unions Government measures in the face of the Middle East crisis; highlights price stability

Santo Domingo.- The Minister of Industry, Commerce and Mipymes, Eduardo ‘Yayo’ Sanz Lovatón, stated that no product from the basic basket has registered price increases in the Dominican Republic, despite the current international situation, highlighting this fact as a sign of economic stability in the country.

The official explained that the plan implemented by the Government to face the global crisis is underway and showing positive results, when speaking after meeting with representatives of the main trade unions in the country. “So far, there have been no price increases in essential products nor have there been supply problems in the national territory, and this stability is due to the constant monitoring led by President Luis Abinader along with the authorities, focused on each item of the basic basket and on the main raw materials for internal consumption,” he asserted. He also highlighted that the dialogue between the Government, the business sector, the unions and the political parties has contributed to generating a climate of trust amid the adverse international context.

We recommend reading: Government has mitigated the effects of inflation, says Yayo Sanz Lovatón

However, he acknowledged that it is a complex scenario, marked by uncertainty in global markets, especially in the hydrocarbons sector. He indicated that, although higher oil prices have been recorded in the past, current fluctuations have been particularly drastic. Finally, he explained that the Government’s strategy is based on the constant monitoring of these economic variables, with the aim of anticipating possible impacts and guaranteeing the stability of the local market. The official attended the meeting with the union members, accompanied by the Minister of the Presidency, José Ignacio Paliza, and the Director General of Internal Taxes, Magín Díaz.