NewsWhore
07-05-2007, 03:30 PM
The National Association of Young Entrepreneurs (ANJE) says that to guarantee macroeconomic stability during the electoral months, the country needs to sign another agreement with the International Monetary Fund. Joel Santos, ANJE president, said that the 8th review of the country's stand by arrangement with the IMF is scheduled for December. Santos told the Listin Diario that government spending for the first five months of the year has increased by RD$7 billion, in comparison to the same period last year. Santos mentioned that government spending has significantly increased in propaganda and per diem payments, contrary to what is established in the Austerity Law.
Santos pointed that fiscal equilibrium has only happened because the government has collected RD$19 billion more in taxes. He said the government needs to look ahead, especially given the need to confront the quasi fiscal deficit of the Central Bank.
Santos said the country should have the capacity to self-regulate itself, but in the meantime, the IMF is a guarantee to maintain macroeconomic stability.
He pointed out that one thing is economic growth at 9 or 10% and another is that the population feels an improvement in its standard of living. He pointed out that if the government does not confront basic issues such as general safety, supply of water, constant blackouts and increases in basic consumer products, the outcome will put the stability, economic growth and development at risk.
More... (http://www.dr1.com/index.html#7)
Santos pointed that fiscal equilibrium has only happened because the government has collected RD$19 billion more in taxes. He said the government needs to look ahead, especially given the need to confront the quasi fiscal deficit of the Central Bank.
Santos said the country should have the capacity to self-regulate itself, but in the meantime, the IMF is a guarantee to maintain macroeconomic stability.
He pointed out that one thing is economic growth at 9 or 10% and another is that the population feels an improvement in its standard of living. He pointed out that if the government does not confront basic issues such as general safety, supply of water, constant blackouts and increases in basic consumer products, the outcome will put the stability, economic growth and development at risk.
More... (http://www.dr1.com/index.html#7)