Economy

Santo Domingo.- The Vice President of the Senate, as well as members of the Treasury and Energy Commission of both legislative chambers, valued the savings of nearly US$235 million that the Government has already had as a result of the conversion to natural gas of generation plants that worked with derived fuels of oil and favored the entire national electricity matrix to switch to producing with cleaner and cheaper fuels.

Santo Domingo.- The company GB Energy reported that it dispatches normally Avgas 100LL aviation fuel, used by small planes, and guaranteed that it will maintain the continuity of the supply of this fuel.

Mauricio Pulido, CEO for the Dominican Republic, indicated that the company has inventory for more than 30 days to exceed the regular demand of its customers, both in Jet A-1 fuels, which are used by turbine aircraft (commercial, cargo or military flights), such as Av 100LL, used by aircraft that have piston engines (light aircraft or small planes).

Santo Domingo.- The US Federal Reserve approved Wednesday the highest interest rate hike in that country since 1994 (to be between 1.5-1.75%), which will not only impact that economy, but analysts already anticipate its effects on others such as the Dominican.

Santo Domingo.- The approval in the Chamber of Deputies of the Matías Ramón Mella province has generated the rejection of different sectors of the national level.

In this regard, the urban planner and architect Marcos Barinas Uribe considered that the arguments to create the Matías Ramón Mella province are not conclusive and that it is necessary to study this possibility in greater depth.

He considers that this initiative should be part of a territorial ordering plan and that “until now it appears to be an intention of an electoral nature.”

SANTO DOMINGO.- Cuban businessmen are interested in expanding business and commercial relations in the Dominican Republic.

In this event, Cuban SMEs will offer their production and technology portfolios in Punta Cana and Puerto Plata.

Executives from dozens of Cuban companies will present their product portfolios in the Dominican Republic to establish commercial relations with small and medium-sized entrepreneurs.

Santo Domingo, DR.
The Dominican Association of Exporters (Adoexpo), celebrating yesterday the 50th anniversary of its founding, highlighted the potential of the sector, citing that the export volume in this last four-month period of the year totaled US$4.1 billion, a growth of 9.87% compared to January-April 2021 and 31.69% compared to 2019, year.

Santo Domingo, DR.
While the companies that supply fertilizers used in agriculture claim to have enough stock and that prices have been frozen since September 2021, producers in the southern region say that these inputs are registering considerable increases in the domestic market.

The ban will begin in the southern region on July 1 and will end on September 30.

Azua, DR
The Ministry of Agriculture held a meeting with hundreds of producers, technicians of the agricultural sector, and representatives of tomato processing agro-industries to formalize Resolution No.2018-45, which orders a ban on whitefly host crops (Bemisia tabaci Genn) and Trips.

The export volume of tobacco and rum amounted to US$425.39 million between January and April of this year, both products reflecting critical levels of growth in their sales abroad.

In the case of tobacco, an agricultural item with a variety of derived products, from robust cigars to fruit leaves, its exports in the first four months of the year reached US$384.67 million.

Santo Domingo, DR.
According to a study recently carried out by the Central American Consumer Protection Council (Concadeco), an organization that belongs to the Central American Integration System (SICA), the Dominican Republic is one of the countries with the cheapest basic food basket,

The president of the regional body, the Honduran Mario Castejon, said in a press release that the country has the staple products with the lowest prices than Panama, Nicaragua, Guatemala, Costa Rica, Honduras, and other Caribbean countries.