NewsWhore
09-30-2010, 05:20 PM
The Executive Branch has sent the bill for the National Budget for 2011 to Congress. The proposed budget stands at RD$390 billion. The bill estimates inflation will be 4.5%, exchange rate RD$39 to the US$1 and an average oil price of at US$84.50 per barrel. The bill estimates the DR will grow 5.5% GDP in 2011. RD$68 billion is being allocated to pay the foreign debt. Of the RD$390,475,775.514, RD$293.216,795,514 are from tax revenues and donations and RD$97.258,980 would be from foreign loans. The government expects to borrow RD$95 billion in 2011, which is 18 billion less than this year. The government deficit is estimated at RD$33.5 billion, or 7.6% of the GDP, as reported in Diario Libre.
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