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View Full Version : Fernandez administration to borrow to meet budget deficit



NewsWhore
06-20-2012, 03:20 PM
The Presidency has sent a bill to the Senate aimed at modifying the 2012 National Budget. The complementary budget authorizes the Ministry of Hacienda to transact loans for US$1,599 million and EUR10.9 million, to cover a deficit of RD$51.3 billion reported by the Presidency. The bill authorizes a RD$5.159 million credit from the French Development Agency and disbursements worth RD$24.18 billion under the Petrocaribe Agreement (Venezuela). The credits would include authorization for placing sovereign bonds for US$500 million, as reported in Diario Libre.

www.diariolibre.com/economia/2012/06/20/i340723_poder-ejecutivo-envia-senado-presupuesto-complementario.html (http://www.diariolibre.com/economia/2012/06/20/i340723_poder-ejecutivo-envia-senado-presupuesto-complementario.html)

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