NewsWhore
08-27-2009, 05:40 PM
Minister of Economics, Planning and Development, Temistocles Montas, says that according to the International Monetary Fund, public spending should be increased to stimulate the Dominican economy.
He explained that according to the IMF the DR's deficit could increase by 0.5%. Currently the DR's budget deficit in the 2009 budget is of 3%.
"The IMF has suggested, after evaluating the economy, that in order to face the global financial crisis, the government's deficit has to be higher than the one proposed by Congress."
He explained that this increase in the deficit would be financed by internal debt, arguing this is the trend in larger nations. He justified the increase in foreign debt this administration has accumulated. Montas says that foreign debt is only 24% of the GDP, indicating it is between US$7.1 billion and US$7.2 billion.
More... (http://www.dr1.com/index.html#3)
He explained that according to the IMF the DR's deficit could increase by 0.5%. Currently the DR's budget deficit in the 2009 budget is of 3%.
"The IMF has suggested, after evaluating the economy, that in order to face the global financial crisis, the government's deficit has to be higher than the one proposed by Congress."
He explained that this increase in the deficit would be financed by internal debt, arguing this is the trend in larger nations. He justified the increase in foreign debt this administration has accumulated. Montas says that foreign debt is only 24% of the GDP, indicating it is between US$7.1 billion and US$7.2 billion.
More... (http://www.dr1.com/index.html#3)