NewsWhore
01-15-2009, 02:20 PM
The annual subsidies given to the electricity sector and consumers of LPG (propane gas) are draining the public coffers and making it impossible for the economic model to be sustained, according to Hoy newspaper. The figures from the Ministry of Hacienda indicate, in effect, that the five years from 2004-2008 saw the government spend RD$109 billion pesos (RD$109,000,000,000) on these subsidies and transfers.
The payments to the electricity sector account for RD$75.75 billion. Money given to "institutions not subject to subsidy suspensions" (such as hospitals, schools and street lighting) totaled RD$10.63 billion between the years 2005 and 2008. The statistics from the ministry also assign, according to the documents on their website, the sum of RD$22.63 billion to the propane gas subsidy during the same five-year period. The government covered these costs with funds from the Caracas Accords and the PetroCaribe Agreement and short-term credits, namely internal and external debts.
For 2009, the government has announced the government would eliminate the fixed cost PRA subsidy on entire neighborhoods, replacing it with direct subsidies to those who hold the Solidaridad welfare card.
More... (http://www.dr1.com/index.html#7)
The payments to the electricity sector account for RD$75.75 billion. Money given to "institutions not subject to subsidy suspensions" (such as hospitals, schools and street lighting) totaled RD$10.63 billion between the years 2005 and 2008. The statistics from the ministry also assign, according to the documents on their website, the sum of RD$22.63 billion to the propane gas subsidy during the same five-year period. The government covered these costs with funds from the Caracas Accords and the PetroCaribe Agreement and short-term credits, namely internal and external debts.
For 2009, the government has announced the government would eliminate the fixed cost PRA subsidy on entire neighborhoods, replacing it with direct subsidies to those who hold the Solidaridad welfare card.
More... (http://www.dr1.com/index.html#7)