A word from Temistocles

[NewsWhore]

Presidency Technical Minister Temistocles Montas has clarified that the budget for 2007 will be RD$205 billion derived from internal resources and that depending on the amounts - yet unknown - of external resources, the budget could reach RD$240 billion. He estimates that RD$187 billion for the budget will come from internal revenues and that RD$18 billion will come from the fiscal reform. Montas said that this total does not include external funds towards the budget that could amount to around RD$35 billion. Unfortunately, this situation will make it impossible for the country to reach its goal of ending the year with a zero deficit and an equal fiscal balance. Montas also reports that the government will save a reported RD$9.7 billion from the reduction of subsidies on electricity and propane gas. Montas, quoted in Diario Libre, said that there would be a US$200 million (RD$6.7 billion) reduction in the electricity subsidy, which will be US$450 million in 2007, and a savings of RD$3 billion from the GLP subsidy, for total savings of RD$9.7 billion.

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