NewsWhore
06-25-2010, 03:50 PM
The PRD Economic Policy commission claimed yesterday that the government has been operating on a fiscal deficit of RD$76.7 billion. Nevertheless, the commission acknowledged that there had been an extraordinary increase in capital investment. The PRD commission said that the RD$76.752 billion deficit was financed as follows: RD$21.576 billion with external financing, RD$34.211 billion from domestic financing, and RD$20.963 billion with arrears or late payments. The commission warned that the total income from normal sources and donations had reached RD$101.008 billion, but that expenditures were RD$177.761 billion. Government income increased by 7.7% in the first five months, but expenditure increased by 23.4%.
As a result, the PRD economists say that in order for the government to reach its goal of a RD$47 billion fiscal deficit for the year, it will have to curtail expenditures for the rest of the year and at the same time find additional funding sources outside of taking on more debt, and this means increased electricity tariffs and a new tax reform package.
More... (http://www.dr1.com/index.html#3)
As a result, the PRD economists say that in order for the government to reach its goal of a RD$47 billion fiscal deficit for the year, it will have to curtail expenditures for the rest of the year and at the same time find additional funding sources outside of taking on more debt, and this means increased electricity tariffs and a new tax reform package.
More... (http://www.dr1.com/index.html#3)