Santo Domingo.- Economists Arturo Martínez Moya and Antonio Ciriaco Cruz have contrasting views on the current state of the Dominican economy. Martínez Moya affirms positive indicators compared to previous years, including solid improvements in international reserves, job creation, and inflation control. He emphasizes the need to assess these indicators relative to past performance to accurately measure economic progress. He also highlights the Dominican Republic’s success in managing inflation in the region.
On the other hand, Antonio Ciriaco Cruz, economist and dean of the Faculty of Economic and Social Sciences of the UASD, states that the Dominican economy is experiencing a slowdown. He points out that during the first half of the year, the economy grew at an average rate of 1.2% and there is evidence of an increase in the unemployment rate from 4.8% to 5.2% during the same period.
Ciriaco Cruz explains that if this trend continues, the open unemployment rate could reach 6.0% by the end of 2023. He points out that achieving this year’s growth target of 4.0% would require an economic growth rate of around 6.7% for the remaining months, posing a challenge for the economic authorities. He reiterates that the national economy is currently slowing down, with a growth rate substantially below its potential rate of 5.0%.
These differing points of view reflect ongoing debates about the true health and trajectory of the Dominican economy.