Minister of Hacienda Jochy Vicente had reported that the government ended 2021 with a fiscal deficit of -2.7% of the Gross Domestic Product (GDP) or RD$144.77 billion. The amount is RD$15.06 billion below what was estimated in the reformulated National Budget that had been presented in November 2021.
Vicente emphasized that the reduction of the deficit was made without the need to resort to borrowing.
“Historically, reformulated budgets have meant more borrowing. In 2021, for the first time, a reformulated budget was submitted with lower financing needs,” he highlighted. He pointed out that the public collection agencies had revenues of RD$841.24 billion pesos in 2021, an increase of 12.7% over last year. He explained that economic growth and other administrative measures made the increase in state revenues possible.
The results garnered the government a pat in the...
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