Montas foresees decrease

[NewsWhore]

Economy, Planning and Development Minister Temistocles Montas says that there will be a 3% decrease (currently 19% of GDP) in public spending in the DR in 2009 due to a reduction in access to credit and a decrease in tax collections. Montas was speaking during a conference organized by the General Secretariat of the Ibero-American Summit, held in Oporto, Portugal. He added the decrease in spending goes against the general trend in Latin America, where most countries are preparing to up their public spending. During his speech Montas urged representatives from multilateral organizations to review the conditions under which they lend money, while also encouraging countries in need of loans to be more careful in how they distribute the money lent.

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