Government deficit at RD$21 billion

[NewsWhore]

The government has a deficit of RD$21 billion due to overspending so far this year and now proposes to finance it primarily by taking on PetroCaribe debt, as reported in Listin Diario. The Executive Branch sent the complementary budget to Congress yesterday. Of the total, RD$10.3 billion would come from an increase in tax revenue, RD$5.05 billion would be funded by a decline in Central Bank recapitalizing. The funds that were used to recapitalize the Central Bank would be directed to social programs. The complementary bill also cuts RD$360 million from the RD$576 million the government had allotted to the purchase of Super Tucano Brazilian airplanes by the Ministry of Armed Forces. Furthermore, the bill authorizes the Ministry of Finance to take on foreign debt for the construction of the Duarte Highway-Casabito-Constanza road in La Vega province, that has been entrusted to the Ministry of Public Works.

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