NewsWhore
12-03-2008, 03:30 PM
The Senate has approved, after two consecutive sessions, a bill submitted by the Executive Branch to increase the budget deficit by RD$10.8 billion. The increased deficit, which includes loans, would be used to stabilize the nation's failing electric sector. During the urgent sessions, senators approved a motion favoring government intervention on behalf of 1,000 Falconbridge workers whose jobs are at risk after the mining company announced an indefinite suspension of operations.
Writing in Hoy, economist Carlos Despradel says that the government should be more fiscally responsible in these days of global financial troubles. Despradel estimates the external deficit in 2009 will be US$5 billion. Despradel is also concerned about the DR's trade deficit, as exports in 2008 fell by US$200 million while imports grew by 20%. According to economist Isodoro Santana the balance of payments will affect jobs and proposed wage increases, as well as productive activities. According to Santana the deficit in the balance of payment was 12.2% of the GDP, or US$4 billion, during the first nine months of 2008.
More... (http://www.dr1.com/index.html#4)
Writing in Hoy, economist Carlos Despradel says that the government should be more fiscally responsible in these days of global financial troubles. Despradel estimates the external deficit in 2009 will be US$5 billion. Despradel is also concerned about the DR's trade deficit, as exports in 2008 fell by US$200 million while imports grew by 20%. According to economist Isodoro Santana the balance of payments will affect jobs and proposed wage increases, as well as productive activities. According to Santana the deficit in the balance of payment was 12.2% of the GDP, or US$4 billion, during the first nine months of 2008.
More... (http://www.dr1.com/index.html#4)