NewsWhore
12-18-2009, 01:30 PM
The Senate declared the legislation to be of urgent nature and after two consecutive readings approved the proposal for the Budget of Income and Law on Public Spending 2010, for an amount that reached RD$378,997,500,000. The Budget proposal was submitted by the Executive Branch and approved without modifications.
The full Senate accepted the report submitted by the Joint Commission that was headed by Senator Dionis Sanchez, and recommended the approval of the legislation after an agreement was reached between the Minister of Hacienda, Vicente Bengoa, and the governor of the Central Bank, Hector Valdez Albizu, on the resources for the recapitalization of the banking entity. According to the report, after an agreement between the Central Bank governor and the Hacienda Minister, which will assign RD$6 billion to the bank for recapitalization, it was decided to submit a favorable report, without modifications to the proposal by the Executive Branch.
Sanchez also mentioned that the amount for the recapitalization of the Central Bank is not specified in the general dispositions of the Budget as in former years, because a legislative proposal will be submitted to Congress in the next few days that will modify the Central Bank Recapitalization Law as agreed in the Stand-by Arrangement signed with the International Monetary Fund (IMF).
The bill was approved with the votes of the ruling PLD party, since the opposition PRD abstained. PRD spokesman Roberto Rodriguez read a message with his party's position on the budget at a PRD economic committee press conference. In a separate statement, Senator Jesus Vasquez also questioned the budget legislation.
PLD spokesman Senator Francis Vargas and fellow party members Euclides Sanchez and Prim Pujols answered the PRD attacks, describing them as lacking respect. Vargas defended the policy implemented by the government, pointing out that they have maintained economic stability.
The report on the legislative proposal stresses that the budgetary estimates for 2010 have been worked out taking into consideration the obligations undertaken in last November's Stand-by accord with the IMF. The accord was signed in order to obtain fresh resources and to ease external financing from the Inter-American Development Bank, the World Bank and other international financial organizations.
More... (http://www.dr1.com/index.html#3)
The full Senate accepted the report submitted by the Joint Commission that was headed by Senator Dionis Sanchez, and recommended the approval of the legislation after an agreement was reached between the Minister of Hacienda, Vicente Bengoa, and the governor of the Central Bank, Hector Valdez Albizu, on the resources for the recapitalization of the banking entity. According to the report, after an agreement between the Central Bank governor and the Hacienda Minister, which will assign RD$6 billion to the bank for recapitalization, it was decided to submit a favorable report, without modifications to the proposal by the Executive Branch.
Sanchez also mentioned that the amount for the recapitalization of the Central Bank is not specified in the general dispositions of the Budget as in former years, because a legislative proposal will be submitted to Congress in the next few days that will modify the Central Bank Recapitalization Law as agreed in the Stand-by Arrangement signed with the International Monetary Fund (IMF).
The bill was approved with the votes of the ruling PLD party, since the opposition PRD abstained. PRD spokesman Roberto Rodriguez read a message with his party's position on the budget at a PRD economic committee press conference. In a separate statement, Senator Jesus Vasquez also questioned the budget legislation.
PLD spokesman Senator Francis Vargas and fellow party members Euclides Sanchez and Prim Pujols answered the PRD attacks, describing them as lacking respect. Vargas defended the policy implemented by the government, pointing out that they have maintained economic stability.
The report on the legislative proposal stresses that the budgetary estimates for 2010 have been worked out taking into consideration the obligations undertaken in last November's Stand-by accord with the IMF. The accord was signed in order to obtain fresh resources and to ease external financing from the Inter-American Development Bank, the World Bank and other international financial organizations.
More... (http://www.dr1.com/index.html#3)