NewsWhore
11-13-2008, 04:10 PM
Hacienda Minister Vicente Bengoa has told reporters from Listin Diario that the budget for 2009 has not been sent to Congress because it was based on a set of circumstances and macroeconomic conditions that have changed due to the global financial crisis. Bengoa explained that the project is being reformulated based on new analysis of the macroeconomic situation that take into account the fiscal variations that are "altered downwards, which is significant."
Bengoa added that the Central Bank and the Ministry of Economy, Planning and Development, the institutions responsible for this task had made some variations to the macroeconomic conditions last Friday, and this was followed by a three-day weekend.
The Minister of the Hacienda cited as an example that the estimated economic growth in the GDP that was placed at 4% was reduced to 3%. Bengoa said that his ministry still had time to submit the budget.
More... (http://www.dr1.com/index.html#4)
Bengoa added that the Central Bank and the Ministry of Economy, Planning and Development, the institutions responsible for this task had made some variations to the macroeconomic conditions last Friday, and this was followed by a three-day weekend.
The Minister of the Hacienda cited as an example that the estimated economic growth in the GDP that was placed at 4% was reduced to 3%. Bengoa said that his ministry still had time to submit the budget.
More... (http://www.dr1.com/index.html#4)