NewsWhore
07-05-2012, 12:50 PM
Economist Fernando Alvarez Bogaert has published a long article in Hoy newspaper on the government deficit, which he says is over RD$115 billion. He says that the behavior of the economy so far in 2012 is awakening some serious complications. He said that the situation was the result of three factors: a fall in income, an increase and acceleration in public expenditure and the uptake of advance financing.
Alvarez Bogaert points out the increased amount of income as well as the increase in expenditure of which he says 76% were in current expenses, which he says is very worrisome. Going through the income and the expenditure, Alvarez concludes that the situation is so critical that only some drastic action could correct the problems, and such action would entail "tolerable damage". Otherwise, he says, the market will correct the Dominican economy with intolerable economic and social damage.
More... (http://www.dr1.com/index.html#8)
Alvarez Bogaert points out the increased amount of income as well as the increase in expenditure of which he says 76% were in current expenses, which he says is very worrisome. Going through the income and the expenditure, Alvarez concludes that the situation is so critical that only some drastic action could correct the problems, and such action would entail "tolerable damage". Otherwise, he says, the market will correct the Dominican economy with intolerable economic and social damage.
More... (http://www.dr1.com/index.html#8)