NewsWhore
12-14-2007, 01:50 PM
Hacienda Minister Vicente Bengoa has announced that the National Development Council approved a RD$300 billion budget and public spending bill for 2008. The 2008 budget is RD$50 billion more than the 2007 budget. Bengoa, speaking at a press conference, said that public employees' salaries would not be increased. The bill will be sent to the government-party majority Congress next week.
Hoy writes that estimates for 2008 internal revenues are RD$264 billion and external revenues are RD$36 billion. Current spending accounts for RD$191.5 billion and RD$67.9 billion has set aside for capital expenditures for a total of RD$259.5 billion. RD$41 billion will be used to pay the foreign debt.
Bengoa said that 10.5% of the budget total, or RD$31.5 billion, has been assigned to education, and will be distributed for education at all levels, including funding for the state university UASD as well as the construction of schools.
Public health was allocated the second largest portion of the 2008 budget with RD$21.5 billion, or 7.1%.
The Presidency has assigned itself RD$35.6 billion. Bengoa justified this saying that 32 public institutions depend directly on the Executive Branch. These include the Administrative Ministry, the Ministry of Economy, Planning and Development and the Public Works Supervising Office. The government allocated RD$10 billion to the construction of the first 14km line of the Santo Domingo Metro in 2008. This includes RD$7 billion that will be borrowed and RD$3 billion from local revenues.
Bengoa added that the Central Electoral Board (JCE) was allocated RD$3.6 billion, although it had asked for RD$7.6 billion and the Judicial Branch was assigned RD$3.4 billion. Congress was allocated RD$4.32 billion.
Bengoa said the budget also includes RD$21 billion for electricity subsidies and RD$5 billion for propane gas subsidies.
RD$9 billion was assigned to the Central Bank to cover the quasi-fiscal debt.
More... (http://www.dr1.com/index.html#1)
Hoy writes that estimates for 2008 internal revenues are RD$264 billion and external revenues are RD$36 billion. Current spending accounts for RD$191.5 billion and RD$67.9 billion has set aside for capital expenditures for a total of RD$259.5 billion. RD$41 billion will be used to pay the foreign debt.
Bengoa said that 10.5% of the budget total, or RD$31.5 billion, has been assigned to education, and will be distributed for education at all levels, including funding for the state university UASD as well as the construction of schools.
Public health was allocated the second largest portion of the 2008 budget with RD$21.5 billion, or 7.1%.
The Presidency has assigned itself RD$35.6 billion. Bengoa justified this saying that 32 public institutions depend directly on the Executive Branch. These include the Administrative Ministry, the Ministry of Economy, Planning and Development and the Public Works Supervising Office. The government allocated RD$10 billion to the construction of the first 14km line of the Santo Domingo Metro in 2008. This includes RD$7 billion that will be borrowed and RD$3 billion from local revenues.
Bengoa added that the Central Electoral Board (JCE) was allocated RD$3.6 billion, although it had asked for RD$7.6 billion and the Judicial Branch was assigned RD$3.4 billion. Congress was allocated RD$4.32 billion.
Bengoa said the budget also includes RD$21 billion for electricity subsidies and RD$5 billion for propane gas subsidies.
RD$9 billion was assigned to the Central Bank to cover the quasi-fiscal debt.
More... (http://www.dr1.com/index.html#1)