NewsWhore
10-03-2011, 12:50 PM
President Leonel Fernandez has sent the National Budget for 2012 for RD$430 billion to the ruling PLD-party majority Senate. The PLD also has the majority needed in the Chamber of Deputies to pass the budget.
Hoy reports that the novelties include a 15-10% wage increase for members of the Police and military. At the same time, the Executive Branch sent a bill to Congress for an emission of internal bonds for RD$18.3 billion to back the 2012 budget.
President Fernandez says the budget was prepared taking into account the Dominican economy with 5.5% growth in real terms, or around 1% compared to 2011. Inflation is estimated to average 7.5%, and the exchange rate is expected to average RD$40.30 to the dollar. Petrol prices of US$101 are contemplated.
The fiscal deficit is expected to be reduced 0.7% of GDP compared to the 2011 budget. The financial deficit is forecast to be RD$22.4 billion, or 0.89% of nominal GDP, RD$11.1 billion less than estimated for 2011.
The government allocates RD$111.5 billion or 4.7% of the GDP and RD$27.6 billion to the Treasury to pay the public debt.
Education is allocated RD$58.5 billion, or 2.5% of GDP.
Spending is broken down as follows:
Congress RD$4.4 billion (0.2%)
Presidency RD$36.8 billion (1.9%)
Ministry of Education RD$41.5 billion (2.5%)
Ministry of Higher Education RD$6.4 billion (0.3%)
Ministry of Public Health RD$41.7 billion (1.9%)
Presidency of the Republic RD$36.8 billion (1.9%)
Ministry of Public Works RD$32.4 billion (1.6%)
Ministry of Interior & Police RD$24.5 billion (1%)
Ministry of the Armed Forces RD$13.0 billion (0.6%)
Ministry of Hacienda RD$9.1 billion (0.4%)
Ministry of Agriculture RD$7.4 billion (0.3%)
National Congress RD$5.07 billion (0.2%)
Ministry of Foreign Relations RD$5.04 billion (0.2%)
Ministry of Environment RD$4.6 billion (0.2%)
Judicial Branch RD$3.6 billion 0.2%
Attorney General RD$2.6 billion (0.1%)
Ministry of Economy & Planning RD$3.1 billion (0.1%)
Central Electoral Board RD$3.1 billion (0.2%)
Ministry of Sports RD$2.1 billion (0.1%)
Ministry of Industry & Commerce RD$1.7 billion (0.1%)
Ministry of Labor RD$1.5 billion (0.1%)
Ministry of Culture RD$1.4 billion (0.1%)
Ministry of Tourism RD$1.0 billion (0.0%)
Ministry of Women RD$382 million (0.0%
Ministry of Youth RD$330 million (0.0%)
http://portaldelciudadano.gov.do/
More... (http://www.dr1.com/index.html#2)
Hoy reports that the novelties include a 15-10% wage increase for members of the Police and military. At the same time, the Executive Branch sent a bill to Congress for an emission of internal bonds for RD$18.3 billion to back the 2012 budget.
President Fernandez says the budget was prepared taking into account the Dominican economy with 5.5% growth in real terms, or around 1% compared to 2011. Inflation is estimated to average 7.5%, and the exchange rate is expected to average RD$40.30 to the dollar. Petrol prices of US$101 are contemplated.
The fiscal deficit is expected to be reduced 0.7% of GDP compared to the 2011 budget. The financial deficit is forecast to be RD$22.4 billion, or 0.89% of nominal GDP, RD$11.1 billion less than estimated for 2011.
The government allocates RD$111.5 billion or 4.7% of the GDP and RD$27.6 billion to the Treasury to pay the public debt.
Education is allocated RD$58.5 billion, or 2.5% of GDP.
Spending is broken down as follows:
Congress RD$4.4 billion (0.2%)
Presidency RD$36.8 billion (1.9%)
Ministry of Education RD$41.5 billion (2.5%)
Ministry of Higher Education RD$6.4 billion (0.3%)
Ministry of Public Health RD$41.7 billion (1.9%)
Presidency of the Republic RD$36.8 billion (1.9%)
Ministry of Public Works RD$32.4 billion (1.6%)
Ministry of Interior & Police RD$24.5 billion (1%)
Ministry of the Armed Forces RD$13.0 billion (0.6%)
Ministry of Hacienda RD$9.1 billion (0.4%)
Ministry of Agriculture RD$7.4 billion (0.3%)
National Congress RD$5.07 billion (0.2%)
Ministry of Foreign Relations RD$5.04 billion (0.2%)
Ministry of Environment RD$4.6 billion (0.2%)
Judicial Branch RD$3.6 billion 0.2%
Attorney General RD$2.6 billion (0.1%)
Ministry of Economy & Planning RD$3.1 billion (0.1%)
Central Electoral Board RD$3.1 billion (0.2%)
Ministry of Sports RD$2.1 billion (0.1%)
Ministry of Industry & Commerce RD$1.7 billion (0.1%)
Ministry of Labor RD$1.5 billion (0.1%)
Ministry of Culture RD$1.4 billion (0.1%)
Ministry of Tourism RD$1.0 billion (0.0%)
Ministry of Women RD$382 million (0.0%
Ministry of Youth RD$330 million (0.0%)
http://portaldelciudadano.gov.do/
More... (http://www.dr1.com/index.html#2)