Energy subsidy not sustainable

[NewsWhore]

It may come as no surprise, with rising energy and petroleum costs and all, but the government's energy subsidies are not sustainable, according to Manuel Diaz Cabral, president of the Dominican Republic Industries Association (AIRD). Cabral asks the rhetorical question, "What is the outlook when, during the first four months of the year, the RD$31 billion allocated in the budget towards the energy subsidy have already been spent?" Cabral continues by asking, "Will we spend RD$90 billion, or 20% of the GDP on this energy and GLP subsidy?" Cabral says that the energy sector should be strengthened and politics removed. Cabral says that it is not beneficial for the country or its stability to continue increasing the energy subsidy. Cabral called for a national strategy to phase out the subsidies as well as simultaneously developing a more efficient system for collecting payments for the energy provided.

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