NewsWhore
12-08-2010, 04:20 PM
The Senate will deal with the Budget of Income and the Law of Public Expenditures for 2011 during this afternoon's session. The President sent the RD$390 billion budget to the Senate two months ago. The Senate is only waiting for the addendum that President Fernandez signed yesterday, by which the project is modified to send the funding needed for the new institutions that were created by the new Constitution, including the Constitutional Tribunal. The addendum does not include more resources for Education, which according to the Law should receive 4% of the nation's GDP, the subject of a massive national campaign. The joint commission of senators and deputies met yesterday to prepare a summary report and they have set a meeting for this morning to issue the final report that will be presented to the full Senate.
Diario Libre reports that the proposal is based on an inflation rate of 4.5%, an exchange rate of 39 pesos per dollar and an average oil price of US$84.50 a barrel. There is also an item of RD$68 billion for payment of the foreign debt. The amount set aside for the Central government for the next year is RD$390,475,775,514 of which RD$293,216,795,514 will come from income and donations and RD$97,258,980,000 will come from financing sources. On the expenditure side, the bill projects expenditures for RD$236,764,745,612 and financial applications for RD$63,711,029,902, generating a deficit of RD$33,547,950,098, equivalent to 7.6% of the GDP.
More... (http://www.dr1.com/index.html#4)
Diario Libre reports that the proposal is based on an inflation rate of 4.5%, an exchange rate of 39 pesos per dollar and an average oil price of US$84.50 a barrel. There is also an item of RD$68 billion for payment of the foreign debt. The amount set aside for the Central government for the next year is RD$390,475,775,514 of which RD$293,216,795,514 will come from income and donations and RD$97,258,980,000 will come from financing sources. On the expenditure side, the bill projects expenditures for RD$236,764,745,612 and financial applications for RD$63,711,029,902, generating a deficit of RD$33,547,950,098, equivalent to 7.6% of the GDP.
More... (http://www.dr1.com/index.html#4)