Government debt in the DR

Duece

Member
Mar 11, 2004
104
15
18
Santo Domingo.- In a year marked by the pandemic the total Dominican debt reached, in 2020, a milestone by soaring to US$54.5 billion, or 69.1% of GDP.
It is commonly known that if you owe more than you earn you either have to borrow more, raise taxes or declare insolvency. The government must determine the route it will take for the future of all Dominicans. Anyone living here knows there are millions of uncollected tax dollars either due to non-payment or evasion. Why not go after what is legitimately owed? Also, the size of the government needs to be reduced because of huge inefficiencies and over staffing. Contracts need to be independently scrutinized to avoid farces like the Samana toll road.
 
  • Like
Reactions: USA DOC

Russell

Well-known member
Jun 17, 2017
1,056
336
83
I do believe that most Countries are heading for the same monetary shakedown...COVID19 has astronomical negative impact upon the economy.
I have faith in this new Government that they will ''do the right thing'' or at least ''do things right.''
However, only time will tell.
"Gotta pull a rabbit from the hat''
 

USA DOC

Bronze
Feb 20, 2016
2,297
295
83
I do believe that most Countries are heading for the same monetary shakedown...COVID19 has astronomical negative impact upon the economy.
I have faith in this new Government that they will ''do the right thing'' or at least ''do things right.''
However, only time will tell.
"Gotta pull a rabbit from the hat''
Russell you are a optomistic person...not sure if "do things right" and a Dominican government can be in the same sentence.. The point of no return on borrowing money is already reached, or soon will be.....the concern should now be vaccinating the population.. wait a while longer and vsaccine will become like unobtainium..........
 
  • Like
Reactions: Russell

CristoRey

Double soy latte-sugar free syrup w/ 1% milk
Apr 1, 2014
6,926
3,103
113
Santo Domingo.- In a year marked by the pandemic the total Dominican debt reached, in 2020, a milestone by soaring to US$54.5 billion, or 69.1% of GDP.
It is commonly known that if you owe more than you earn you either have to borrow more, raise taxes or declare insolvency. The government must determine the route it will take for the future of all Dominicans. Anyone living here knows there are millions of uncollected tax dollars either due to non-payment or evasion. Why not go after what is legitimately owed? Also, the size of the government needs to be reduced because of huge inefficiencies and over staffing. Contracts need to be independently scrutinized to avoid farces like the Samana toll road.
Nah, They just seize a few former Senators bank accounts. According to news reports Felix Bautista alone is estimated to have stolen around 100 million.