NewsWhore
09-15-2008, 03:10 PM
Almost half of the subsidy the Fernandez administration has granted on electricity billings has been charged to PetroCaribe agreement, which allows the government to postpone payments for 25 years. According to statistics from the Ministry of Hacienda, between 2005 and July 2008, the government subsidized the electricity sector with RD$62.5 billion. Of that amount, RD$30.4 billion has been charged to the PetroCaribe agreement, as El Caribe reports. The PetroCaribe agreement allows for credits to up to 50% of the total petroleum bill, when the price of petroleum is more than US$52 on international markets.
The newspaper reports that in 2007, the government had used up 73.6% of the budget allotment for the subsidy in 2008 as of the half year mark, or RD$15.5 billion of RD$21 billion.
More... (http://www.dr1.com/index.html#4)
The newspaper reports that in 2007, the government had used up 73.6% of the budget allotment for the subsidy in 2008 as of the half year mark, or RD$15.5 billion of RD$21 billion.
More... (http://www.dr1.com/index.html#4)