RD$52 billion missing

[NewsWhore]

Economist Jose Luis de Ramon told Hoy that the government needs a radical cut in spending and to reduce its size if it is to survive rising international costs and the rising fiscal deficit. De Ramon says the government has said there will be a 2.3% GDP deficit, when what is needed is a 1.5% surplus at year's end. That means the government is 3.8% of the GDP short, or RD$52 billion, he explained. He said that kind of money cannot be had by just more efficient tax collecting by the Tax Department.

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