NewsWhore
02-11-2009, 02:10 PM
When money is tight, spending is cut and once again education and funds for local city governments are getting slashed, says Presidential Minister Cesar Pina Toribio. According to a report in Hoy, Pina Toribio explained that giving education and local government's 4% and 10%, respectively, of the GDP, as is determined by law, is not sustainable. He says that those who don't understand this just don't get the nation's financial situation. In a year when the government has been blamed for unlimited spending and large size of government, as well as large budget for the construction of the metro, Pina Toribio preferred to go further back and blame the economic "disorder" during the 2000-2004 presidential period of former President Hipolito Mejia. He added that the economic situation inherited by the current administration is forcing government to make payments on a RD$65 billion debt and that paying out the full 14% of the GDP to education and local governments would cost an estimated RD$72 billion.
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