NewsWhore
12-10-2009, 05:50 PM
The PRD opposition political party says that with the RD$379 billion of the 2010 budget included, the PLD government will have received RD$1.7 trillion in revenues from 2004-2010 but has not resolved any of the problems that affect Dominicans.
The PRD says that: "Hundreds of jobs have been destroyed, thousands of companies have gone bankrupt, crime is at its highest levels in Dominican history, food prices are unaffordable for households, blackouts and the electricity sector are unprecedented, the quality of Dominican public education is regarded by the World Economic Forum as the worst in the world, public health collapses with the indifference of a government that is postponing the fair demands of doctors, transport, despite the enormous resources spent on the metro, is in chaos, corruption, the highest in Dominican history is on the rise, drug trafficking prevails, despite the PLD's rhetoric declaring that this would not happen, and it has found its main protector and ally in this PLD government."
The PRD says that the 2010 budget violates several laws. [Vicente Bengoa, minister of Hacienda, admitted that 24 laws that allocate percentages of budgeted funds to specific sectors or programs are being violated by the 2010 Budget.]
On the public debt, the political party says that for the second consecutive year, the Budget exhibits a serious fiscal deficit for RD$47.8 billion, that if the arrears on interest payments by the Central Bank (RD$14.5 billion) are included it will come to RD$62.3 billion. The results couldn't have been worse when one takes into account that in 2009 a deficit of RD$30.8 billion was budgeted, but this ended up at RD$68 billion including the arrears on payment of interest by the Central Bank.
Says the PRD: The fiscal deficit will be financed by a substantial increase in the public debt, which will reach US$20.3 billion by the end of 2010. The level of debt taking included in the budget for RD$115.9 billion, or 31% of the budget, is the highest in history. For every 100 pesos in tax or donation revenues that the government will receive, the government will receive 45 additional pesos in internal and external loans, which is proof of the uncontrollable adiction to taking on debt by the government and the PLD Congress. This debt total does not include the forecasted increase of RD$2.5 billion in the Central Bank's debt, given the PLD government's decision not to pay interests to the Central Bank on the recapitalization bonds. When that amount is included, the total indebtedness for 2010 will total more than RD$140 billion.
The PRD criticizes the fact that the money has been used to pay for "botellas" (jobs for political appointees) in government. The party says that even the Ministry of Hacienda had to admit the government did not have money to pay its public employees in November or December and was only able to do so thanks to the support of loans from the IMF, the IDB and the World Bank. As is observed, the PLD government is taking on debt not only to increase the number of beneficiaries of its Solidarity program, but also to pay a padded government payroll.
More... (http://www.dr1.com/index.html#6)
The PRD says that: "Hundreds of jobs have been destroyed, thousands of companies have gone bankrupt, crime is at its highest levels in Dominican history, food prices are unaffordable for households, blackouts and the electricity sector are unprecedented, the quality of Dominican public education is regarded by the World Economic Forum as the worst in the world, public health collapses with the indifference of a government that is postponing the fair demands of doctors, transport, despite the enormous resources spent on the metro, is in chaos, corruption, the highest in Dominican history is on the rise, drug trafficking prevails, despite the PLD's rhetoric declaring that this would not happen, and it has found its main protector and ally in this PLD government."
The PRD says that the 2010 budget violates several laws. [Vicente Bengoa, minister of Hacienda, admitted that 24 laws that allocate percentages of budgeted funds to specific sectors or programs are being violated by the 2010 Budget.]
On the public debt, the political party says that for the second consecutive year, the Budget exhibits a serious fiscal deficit for RD$47.8 billion, that if the arrears on interest payments by the Central Bank (RD$14.5 billion) are included it will come to RD$62.3 billion. The results couldn't have been worse when one takes into account that in 2009 a deficit of RD$30.8 billion was budgeted, but this ended up at RD$68 billion including the arrears on payment of interest by the Central Bank.
Says the PRD: The fiscal deficit will be financed by a substantial increase in the public debt, which will reach US$20.3 billion by the end of 2010. The level of debt taking included in the budget for RD$115.9 billion, or 31% of the budget, is the highest in history. For every 100 pesos in tax or donation revenues that the government will receive, the government will receive 45 additional pesos in internal and external loans, which is proof of the uncontrollable adiction to taking on debt by the government and the PLD Congress. This debt total does not include the forecasted increase of RD$2.5 billion in the Central Bank's debt, given the PLD government's decision not to pay interests to the Central Bank on the recapitalization bonds. When that amount is included, the total indebtedness for 2010 will total more than RD$140 billion.
The PRD criticizes the fact that the money has been used to pay for "botellas" (jobs for political appointees) in government. The party says that even the Ministry of Hacienda had to admit the government did not have money to pay its public employees in November or December and was only able to do so thanks to the support of loans from the IMF, the IDB and the World Bank. As is observed, the PLD government is taking on debt not only to increase the number of beneficiaries of its Solidarity program, but also to pay a padded government payroll.
More... (http://www.dr1.com/index.html#6)