NewsWhore
06-29-2011, 03:00 PM
The Executive Branch announced yesterday that it would submit a legislative proposal to modify the 2011 National Budget, cutting 12% from the budgets of the ministries but excluding Education, and the Legislative and Judicial Branches.
Economy, Planning and Development Minister Temistocles Montas said that with this modification the authorities hope to obtain between RD$10 and RD$12 billion, which will be used to tackle the deficit and the additional requirements of the electricity sector during this year. He recalled that in March the Executive Branch issued decree 186-11 which instructed the Ministry of Hacienda to cut 12% from the budgets of the public institutions as a way to face the deficit the government attributes to the unbudgeted increase in oil prices.
Diario Libre quoted Montas as saying: "Now, this modification, reducing expenditures in the budget, is being sent to Congress. This will be ready as soon as President Leonel Fernandez signs the accompanying letter. We have just finished delivering the reformulated Budget to the Judicial Advisor to the President". The minister said that the proposal, which could be sent to Congress today, is not a supplementary budget, but a modification of the 2011 Budget, and that the government, upon receiving the additional money in August, will submit a piece of legislation containing this money. "Excluding some ministries, in general the ministries are undergoing a 12% reduction in their budgets," he stated.
Montas also told the Chief Justice of the Supreme Court, Jorge Subero Isa, that he has nothing to fear, because the government has no intention of reducing the Judicial Branch budget.
Earlier last week, the government secured congressional approval for RD$9.6 billion in extra resources, with the increase in taxation.
More... (http://www.dr1.com/index.html#1)
Economy, Planning and Development Minister Temistocles Montas said that with this modification the authorities hope to obtain between RD$10 and RD$12 billion, which will be used to tackle the deficit and the additional requirements of the electricity sector during this year. He recalled that in March the Executive Branch issued decree 186-11 which instructed the Ministry of Hacienda to cut 12% from the budgets of the public institutions as a way to face the deficit the government attributes to the unbudgeted increase in oil prices.
Diario Libre quoted Montas as saying: "Now, this modification, reducing expenditures in the budget, is being sent to Congress. This will be ready as soon as President Leonel Fernandez signs the accompanying letter. We have just finished delivering the reformulated Budget to the Judicial Advisor to the President". The minister said that the proposal, which could be sent to Congress today, is not a supplementary budget, but a modification of the 2011 Budget, and that the government, upon receiving the additional money in August, will submit a piece of legislation containing this money. "Excluding some ministries, in general the ministries are undergoing a 12% reduction in their budgets," he stated.
Montas also told the Chief Justice of the Supreme Court, Jorge Subero Isa, that he has nothing to fear, because the government has no intention of reducing the Judicial Branch budget.
Earlier last week, the government secured congressional approval for RD$9.6 billion in extra resources, with the increase in taxation.
More... (http://www.dr1.com/index.html#1)