NewsWhore
09-07-2009, 04:10 PM
The Fernandez administration is facing a major budgetary deficit, but there have been no announcements that the government is considering any reductions in its current spending.
Opposition party PRD vice president Luis Abinader expressed concern that the government is seeking new borrowing to reduce the fiscal deficit that the Ministry of Hacienda says is at RD$10 billion at half year. The economist says, "It is irresponsible to mortgage the country instead of eliminating the bloated and parasitical government payroll" and the superfluous current spending.
He said that so far President Leonel Fernandez has not taken any responsible measure to reduce the budgetary deficit. He said that while the authorities reduce investment in capital investments, they continue to add unproductive expenses and increase the payroll. He said that in the first quarter of the year, the payroll was up 21% compared to the same period in 2008.
Abinader called for an improvement in the quality of public spending, adding that the government needed to give priority to essential public works that will stimulate the economy. He said that while the developing world is rationalizing their resources, the government here is adding more parasites to the payroll.
More... (http://www.dr1.com/index.html#4)
Opposition party PRD vice president Luis Abinader expressed concern that the government is seeking new borrowing to reduce the fiscal deficit that the Ministry of Hacienda says is at RD$10 billion at half year. The economist says, "It is irresponsible to mortgage the country instead of eliminating the bloated and parasitical government payroll" and the superfluous current spending.
He said that so far President Leonel Fernandez has not taken any responsible measure to reduce the budgetary deficit. He said that while the authorities reduce investment in capital investments, they continue to add unproductive expenses and increase the payroll. He said that in the first quarter of the year, the payroll was up 21% compared to the same period in 2008.
Abinader called for an improvement in the quality of public spending, adding that the government needed to give priority to essential public works that will stimulate the economy. He said that while the developing world is rationalizing their resources, the government here is adding more parasites to the payroll.
More... (http://www.dr1.com/index.html#4)