Subsidies to remain

[NewsWhore]

A cautious Leonel Fernandez says that the timing is not right for removing the governmental subsidies on propane gas and electricity. The President was also circumspect in referring to a possible new tax reform program, and he said that he and his economic team would wait for the results of studies that will determine just how to maintain fiscal balance in the Dominican Republic. The President was speaking to reporters at the end of a long meeting with his economic team in La Romana. The group is trying to find ways of enabling the government to be self-sufficient without creating more taxes and in spite of the fact that experts from the Inter-American Development Bank have talked openly about the need to remove the subsidies seeking more government revenues by reforming the tax code. At the end of the session, the IDB representatives and the government's economic team recognized the importance of sustaining the viability of the electricity sector and the plan to capitalize the Central Bank.

More... (http://www.dr1.com/index.html#2)