Bengoa denies increase in spending

[NewsWhore]

Treasury Minister Vicente Bengoa has denied the Dominican Association of Industries (AIRD) claim that there has been an increase in public costs and spending and that this violates the Austerity Law. Bengoa, quoted in Listin Diario, said that instead of increasing public costs the government has reduced costs and is below the benchmarks set by the IMF. Bengoa defended the government by saying that government revenues have increased and that there has been increased investment as a result, but that it is lower than had been projected. The Minister says that the Dominican economy is doing well and has the highest rate of growth in the region. Yesterday, leading AIRD members criticized government overspending in violation of the 2007 Austerity Law in an interview with Hoy newspaper. AIRD president Manuel Diez, vice president Ligia Bonetti, and executive director Circe Almanzar said that increased taxation and spending could bring about an economic crisis.

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