NewsWhore
07-17-2012, 05:20 PM
The country's public and foreign debt is growing by the day, as is the fiscal deficit, which economists and businesspeople are projecting will close the year above the RD$100 billion mark. The public debt, measured from December 2011 to May 2012, has increased by 4.6%, without counting the US$290 million or the US$500 million in bonds for the electricity sector within the complementary budget, which are awaiting final approval in Congress.
As of May, the public debt, which is made up of the country's foreign debt and its internal debt, increased by US$808.8 million compared to December 2011, due to the fact that it went from US$16.59 billion to US$17.40 billion, according to the statistics from the Ministry of Hacienda's General Directorate for Public Credit. This public debt represents 30.9% of the nominal GDP (Gross Domestic Product) estimated at US$56.32 billion by the Ministry of Hacienda's Fiscal Policy Unit. At the same time the foreign debt, which includes multilateral, bilateral, by commercial banks, by bonds and suppliers, increased by US$786.2 million, which represents a 6.3% increase, going from US$11.63 billion to US$12.41 billion. The foreign debt represents 22% of the estimated nominal GDP. Within the foreign debt, the largest part is that of the central government, which as of May of this year reached US$12.61 billion, for an absolute increase of US$786.1 million or 6.3% in relation to December 2011 when it closed at US$11.62 billion.
To a lesser degree there are the bilateral and multilateral debts. The first, which the government carried out government to government and as of May of this year has reached US$5.33 billion, some US$676 million more than in December 2011, with the greatest debt to Venezuela, which in March of this year was US$2.66 billion. Then there is the multilateral debt, which is the debt that the government has with organizations like the Inter-American Development Bank (IDB) or the World Bank. This increased by US$127 million after closing at US$4.27 billion in May. In the meantime, the internal debt increased by US$22.7 million from December 2011. By May it had gone from US$4.97 billion to US$4.99 billion. The internal debt represents 8.9% of the nominal GDP, according to the official report.
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As of May, the public debt, which is made up of the country's foreign debt and its internal debt, increased by US$808.8 million compared to December 2011, due to the fact that it went from US$16.59 billion to US$17.40 billion, according to the statistics from the Ministry of Hacienda's General Directorate for Public Credit. This public debt represents 30.9% of the nominal GDP (Gross Domestic Product) estimated at US$56.32 billion by the Ministry of Hacienda's Fiscal Policy Unit. At the same time the foreign debt, which includes multilateral, bilateral, by commercial banks, by bonds and suppliers, increased by US$786.2 million, which represents a 6.3% increase, going from US$11.63 billion to US$12.41 billion. The foreign debt represents 22% of the estimated nominal GDP. Within the foreign debt, the largest part is that of the central government, which as of May of this year reached US$12.61 billion, for an absolute increase of US$786.1 million or 6.3% in relation to December 2011 when it closed at US$11.62 billion.
To a lesser degree there are the bilateral and multilateral debts. The first, which the government carried out government to government and as of May of this year has reached US$5.33 billion, some US$676 million more than in December 2011, with the greatest debt to Venezuela, which in March of this year was US$2.66 billion. Then there is the multilateral debt, which is the debt that the government has with organizations like the Inter-American Development Bank (IDB) or the World Bank. This increased by US$127 million after closing at US$4.27 billion in May. In the meantime, the internal debt increased by US$22.7 million from December 2011. By May it had gone from US$4.97 billion to US$4.99 billion. The internal debt represents 8.9% of the nominal GDP, according to the official report.
More... (http://www.dr1.com/index.html#2)