NewsWhore
11-21-2008, 04:20 PM
The National Development Council meeting of 19 government ministers has approved a RD$329 billion budget for 2009, up from RD$300 million in 2008. On the whole, government departments will get the same allocations as in the 2008 budget. Of the RD$29 million difference, RD$17 billion will go to cover wage and pension increases that were approved in 2007 and were covered by extraordinary tax collections (Complementary Budget Law) this year. Hacienda Minister Vicente Bengoa says the budget does not include new wage increases or concessions to the Dominican Medical Association (CMD) for wage increases to public hospital doctors, as reported in Hoy. Bengoa says that any wage increases will have to be negotiated directly with Congress.
Bengoa denied reports that the government was considering raising taxes. He said this would be counterproductive in the light of the international economic recession.
The bill was based on a RD$34.7 to the US$1 exchange rate. Bengoa said the government expects 3% GDP and 7.35% inflation in 2009. He expects the tax burden to decline from 15% to 14 in 2009. On the positive side, he said they estimated the country's fuel bill would be RD$8.2 billion less than in 2008.
More... (http://www.dr1.com/index.html#1)
Bengoa denied reports that the government was considering raising taxes. He said this would be counterproductive in the light of the international economic recession.
The bill was based on a RD$34.7 to the US$1 exchange rate. Bengoa said the government expects 3% GDP and 7.35% inflation in 2009. He expects the tax burden to decline from 15% to 14 in 2009. On the positive side, he said they estimated the country's fuel bill would be RD$8.2 billion less than in 2008.
More... (http://www.dr1.com/index.html#1)