BTN News: Circe Almánzar, a prominent business leader, delivered a critical message at the “Economic 2024: Transforming Data into Opportunities for Our People” forum, organized by the Ministry of Industry, Commerce, and Mipymes (MICM) in the Dominican Republic. Almánzar shed light on the ongoing crisis in the Dominican Republic’s electric sector, which she emphasized is not merely a technical issue but a profound fiscal problem demanding immediate attention. She pointed out that the Electric Pact, a detailed plan aimed at resolving the sector’s fundamental issues, remains largely unexecuted due to shifting economic and political variables. Almánzar’s call to action was clear: without a revisited roadmap and concrete steps, the nation will continue to struggle with the high costs and inefficiencies that plague its electric sector.
Almánzar’s remarks underscored the multifaceted nature of the Dominican Republic’s electric sector crisis. She argued that the problem extends far beyond the frequent power outages that dominate public discourse. The crisis, she contended, has deep fiscal implications for the country, with the high costs being borne by all Dominicans through taxes. Almánzar highlighted that the failure to implement the strategies outlined in the Electric Pact is exacerbating these costs, stressing the need for urgent investment and tough decision-making to address the root causes of the crisis. Her statements pointed to the necessity of revising the current roadmap, taking into account new economic calculations, and implementing a robust investment plan to stabilize and improve the sector.
The Electric Pact, as Almánzar detailed, is built on three fundamental pillars that require immediate attention: increasing investments in the distribution sector, reducing the losses that contribute to the sector’s deficit, and tackling the high social and political costs associated with these measures. Almánzar warned that without making the necessary investments and taking decisive actions, the country will not be able to resolve the ongoing crisis in its electric sector. Her comments serve as a stark reminder that the challenges facing the sector are not just technical or operational, but are deeply intertwined with the fiscal health of the nation.
In her address, Almánzar also touched on the broader economic implications of the crisis, particularly in terms of the country’s fiscal stability. She pointed out that the electric sector’s inefficiencies and the resulting fiscal pressures are creating a critical situation that demands urgent intervention. The high cost of electricity, which is passed on to the public through taxes, is a burden that the country can no longer afford to ignore. Almánzar’s call for a review of the roadmap laid out in the Electric Pact is a plea for a comprehensive approach that addresses not just the symptoms, but the underlying causes of the crisis.
Shifting her focus to another crucial area of the Dominican economy, Almánzar celebrated the recent creation of the Empresa Minera Dominicana. She described this initiative as a positive signal from the president, reflecting a commitment to leveraging mining as a significant source of income for the country. Almánzar drew comparisons with Chile, where mining accounts for a substantial portion of the national tax revenue. She emphasized the importance of developing a responsible mining sector in the Dominican Republic, which could play a key role in boosting exports and generating foreign exchange. Almánzar also noted the potential synergies between mining and other strategic sectors, such as semiconductor production, which is being promoted by the MICM as crucial for the country’s economic development.
Almánzar’s address at the “Economic 2024” forum highlighted her commitment to sustainable economic growth in the Dominican Republic. She expressed confidence that with the right decisions, the country can overcome the current challenges in its electric sector and fully realize the potential of its mining industry. Her vision is one of a Dominican Republic that not only resolves its immediate fiscal and economic challenges but also positions itself as a leader in key sectors like energy and mining, driving long-term prosperity for its people.
In conclusion, Almánzar’s insights at the forum are a wake-up call for the Dominican Republic to take immediate and decisive action. The electric sector crisis is not just about keeping the lights on; it’s about ensuring the fiscal health of the nation and securing a sustainable economic future. Through strategic investments and tough decisions, the country can turn its current challenges into opportunities, paving the way for a brighter, more prosperous future.
