NewsWhore
05-09-2011, 06:10 PM
Government autonomous departments and the decentralized sector of government generated 88.3% of the public deficit in 2010, according to an economic analysis in Hoy. Journalist Nelson Suarez says that an analysis of the budget execution prepared by the Chamber of Accounts indicates that the deficit of the Non-Financial Consolidated Public Sector was RD$60.4 billion, equal to 3.2% of the Gross Domestic Product. The reporter says this was produced by the deficit in the government companies and the entities under the so-called Decentralized and Autonomous Sector.
As reported in Hoy, during 2010, government departments, primarily the Public Electricity Corporation (CDEEE) operated with a deficit estimated at RD$32.9 billion, or 1.7% of the GDP, which was covered by transfers from the Central Government for RD$24.7 billion and debt of more than RD$8 billion.
The entities under the Decentralized and Autonomous Public Sector registered an estimated deficit of RD$20.4 billion, or 11.5% of GDP, which was also covered by transfers from the central government for RD$16.05 and debt of more than RD$4.3 billion.
According to the Hoy report, the central government had savings of 3.5% of the GDP or RD$67.03 billion and closed its operations with a surplus of RD$6.9 billion (0.4% of the GDP), when the transfers to other governmental entities are excluded.
The Non-Financial Public Sector (NFPS) is made up of the central government, the decentralized public sector, social security institutions, municipalities and non-financial public entities.
The consolidated expenditure of that sector in 2010 was RD$361.4 billion. Of the total, 69.7% is attributed to the central government, and 15.2% by public corporations, 8.2% to decentralized entities, and 3.7% to municipalities and social security institutions responsible for the remaining 3.1%.
"Generally we blame the central government for the fiscal deficit, not noting that the bulk of responsibility can be attributed to the hypertrophied bureaucracy that lives and prospers under the umbrella of multiple public entities that operate with little control as if they were private businesses," observes the journalist.
www.hoy.com.do/negocios/2011/5/7/374489/Del-deficit-fiscalQuienes-son-culpables (http://www.hoy.com.do/negocios/2011/5/7/374489/Del-deficit-fiscalQuienes-son-culpables)
More... (http://www.dr1.com/index.html#5)
As reported in Hoy, during 2010, government departments, primarily the Public Electricity Corporation (CDEEE) operated with a deficit estimated at RD$32.9 billion, or 1.7% of the GDP, which was covered by transfers from the Central Government for RD$24.7 billion and debt of more than RD$8 billion.
The entities under the Decentralized and Autonomous Public Sector registered an estimated deficit of RD$20.4 billion, or 11.5% of GDP, which was also covered by transfers from the central government for RD$16.05 and debt of more than RD$4.3 billion.
According to the Hoy report, the central government had savings of 3.5% of the GDP or RD$67.03 billion and closed its operations with a surplus of RD$6.9 billion (0.4% of the GDP), when the transfers to other governmental entities are excluded.
The Non-Financial Public Sector (NFPS) is made up of the central government, the decentralized public sector, social security institutions, municipalities and non-financial public entities.
The consolidated expenditure of that sector in 2010 was RD$361.4 billion. Of the total, 69.7% is attributed to the central government, and 15.2% by public corporations, 8.2% to decentralized entities, and 3.7% to municipalities and social security institutions responsible for the remaining 3.1%.
"Generally we blame the central government for the fiscal deficit, not noting that the bulk of responsibility can be attributed to the hypertrophied bureaucracy that lives and prospers under the umbrella of multiple public entities that operate with little control as if they were private businesses," observes the journalist.
www.hoy.com.do/negocios/2011/5/7/374489/Del-deficit-fiscalQuienes-son-culpables (http://www.hoy.com.do/negocios/2011/5/7/374489/Del-deficit-fiscalQuienes-son-culpables)
More... (http://www.dr1.com/index.html#5)