On Friday, 6 December 2024, the Dominican Senate approved the largest budget in the 180-year history of the Dominican Republic: RD$1,681,728,000,000 (RD$1.681 trillion). The budget was declared urgent business and was passed by a vote of 25-2 after two consecutive readings. The legislation now goes to the President for his signature and enactment. The budget had been previously approved in the Chamber of Deputies.
This is the first budget that has been passed under the aegis of the Law on Fiscal Responsibility promoted by President Luis Abinader, which calls for a disciplined investment of the state’s resources.
The National Budget Bill had been originally presented to Congress in September 2024, as required by law. Congress delayed on its approval to give time to the passing of the fiscal reform bill. The National Budget bill, nevertheless, did not contemplate the...
Continue reading...
Last edited by a moderator: