Government spending up

[NewsWhore]

According to the Ministry of Hacienda, government spending so far this year was up 36.5% compared to the Jan-Aug 2007 period. The government spent RD$181.31 billion in 2008, compared to RD$132.79 billion in 2007. Business sectors have been pressing the government to implement their oft-announced austerity plan, especially given the financial crisis in the US, the DR's leading trading partner, as reported in El Caribe. Current spending was up from RD$103.42 billion in 2007 to RD$135.05 billion in 2008, for a 30.6% increase. Capital expenditures increased from RD$29.377 billion to RD$46.26 billion, or 57%.

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