Government surplus to the metro?

[NewsWhore]

Former governor of the Central Bank Luis Toral suggests that the government use the tax revenues surplus to fund equipment for the metro, instead of borrowing. The government is asking Congress to approve international commercial bank financing of the equipment. But Toral says that the RD$10 billion that would be needed could come from what he forecasts will be more than RD$38 billion in surplus revenues the government will receive this year. In an interview with Hoy newspaper, Toral, a PRSC presidential pre-candidate, said that in the first quarter the government has already collected 40% in revenues more than last year, and 15% more than budgeted. Toral commented that the estimated surplus does not include the funds the undervaluation of the petroleum bill will generate and additional funds for capital gains taxes for the sale of foreign companies. He lamented that the government continues to borrow abroad when the national debt is at US$15 billion, about 50% of the Gross Domestic Product.

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