CDEEE gets bulk of money

[NewsWhore]

Listin Diario writes that of the US$400 million designated by the government to cover the deficit in the energy sector, the State-Run Electricity Companies (CDEEE) will get the bulk of funding. The CDEEE will receive US$209.1 million, equivalent to 52.2% of the total. According to a report by the CDEEE, the energy sector is currently experiencing a major crisis, though it does point out that the subsidy for the energy sector in 2007 is 27% less than it was in 2006 when the sector received US$350 million. In January the CDEEE had a deficit of US$30.66 million, in February the deficit was US$24.38 million, in March the deficit was US$28.17 million and in April the deficit equaled US$21.4 million. Whether the CDEEE even has a role to play is questionable, since most of its functions passed on to the power distributors with privatization in 1998. Despite this, the number of CDEEE employees has increased.

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