NewsWhore
11-01-2006, 05:30 PM
Technical Minister to the Presidency Temistocles Montas said yesterday that there would be increased government austerity in 2007, with "drastic reductions in costs," of up to 15% in all government institutions, including the judiciary, Central Electoral Board (JCE) and Congress, compared to 2006. Montas is quoted in Hoy as saying that if the government doesn't make this move now it would lead to a bad situation on the future. Montas says that instead of questioning the government's announcement of a possible reform, the business sector should instead be aiding the situation and coming up with solutions to the problem. Montas went on to defend the government payroll, which many feel is another financial burden on the country, and said that the payroll is at 4.3% of the total GDP, which according to him is way below the Latin American average. Montas said that the government payroll is now 9,000 persons lower than it was during the Hipolito Mejia administration, when it represented 6.2% of the GDP.
Montas, as the head of the President's economic team, said that these recommendations are being given to President Fernandez because next year the government needs to have a 2.0% or 2.5% surplus in the GDP. Such a surplus will permit the government to face the debt service payments that are required for 2007, since these will hit RD$19 billion if there is no capital reduction.
More... (http://www.dr1.com/index.html#2)
Montas, as the head of the President's economic team, said that these recommendations are being given to President Fernandez because next year the government needs to have a 2.0% or 2.5% surplus in the GDP. Such a surplus will permit the government to face the debt service payments that are required for 2007, since these will hit RD$19 billion if there is no capital reduction.
More... (http://www.dr1.com/index.html#2)