Montas and the economy

[NewsWhore]

The Minister for Economy, Planning and Development, Temistocles Montas, has warned that the ever-increasing price of oil is a threat to the Dominican Republic's economic development and long-term stability. He warned that setting a price limit on fuels would seriously erode government income. While acknowledging that the high cost of fuel was affecting the population, Montas also pointed out that 14% of the government's tax income comes from fuel taxes. Looking at the economy, Montas predicted that high oil prices would soon be reflected in production costs, higher salaries and higher prices. During the "Dialogue with the Dominican Government on Economic Policies", held at the Casa de Campo Resort in La Romana over the weekend, Montas pointed out the "excellent" economic indicators currently on track for 2007. The dialogue included specialists and leading figures from the Inter-American Development Bank and the World Bank.

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