Government spending up

[NewsWhore]

The government increased its spending by RD$50.46 billion from January to August, compared to the same period in 2007. That is a 40% increase, according to a report in Listin Diario. This is RD$11.6 billion more than tax collections. As reported, the government spent RD$176.69 billion, compared to RD$126.23 billion in 2007. According to the Ministry of Hacienda, RD$130.69 billion, or 74% were for current expenditures, and only RD$46 billion were allotted to infrastructure and capital expenditures, reflecting a disproportionate ratio between investments and spending. The Fernandez administration has passed several dispositions and laws calling for austerity measures, but these have not been implemented.

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