NewsWhore
03-11-2011, 12:30 PM
Central Bank Governor Hector Valdez Albizu says that the forthcoming measures for the country to deal with the rising oil prices include belt-tightening for the people and called for them to be embraced by all. He acknowledged the effects this has had on the cost of transport, flour, corn and sorghum. He said that rationalizing of fuel consumption is in order but expressed optimism that the government would be able to deal with the new external situation. "Remember that in 2008-2009 we confronted the most terrible financial crisis the world in the past 80 years and we did so successfully," he said, as reported in Hoy.
He said that the measures to be taken needed to involve a commitment from both the public and private sectors. So far, according to Valdez, the stability of the peso has been maintained. The Central Bank Governor said the measures would be announced next week.
Economist Bernardo Vega says that given the new oil prices, the government will have to increase taxation, increase the electricity tariff or taxes on fuel, reduce spending or request permission from the International Monetary Fund to not meet the goals and maintain the Stand-by Agreement, as reported in Listin Diario. Vega made the comments during a talk on the challenges ahead for the Dominican economy coordinated by the National Association of Young Entrepreneurs (ANJE) at the Hotel Jaragua.
More... (http://www.dr1.com/index.html#2)
He said that the measures to be taken needed to involve a commitment from both the public and private sectors. So far, according to Valdez, the stability of the peso has been maintained. The Central Bank Governor said the measures would be announced next week.
Economist Bernardo Vega says that given the new oil prices, the government will have to increase taxation, increase the electricity tariff or taxes on fuel, reduce spending or request permission from the International Monetary Fund to not meet the goals and maintain the Stand-by Agreement, as reported in Listin Diario. Vega made the comments during a talk on the challenges ahead for the Dominican economy coordinated by the National Association of Young Entrepreneurs (ANJE) at the Hotel Jaragua.
More... (http://www.dr1.com/index.html#2)