2003News

First-quarter shortfall of nearly RD$800 million

Finance Minister Rafael Calder?n and National Budget Director Luis P?rez Cuevas have told the press that the government?s income for the first quarter of 2003 has fallen RD$793 million short of predictions. The main cause for the shortfall was described as the 10% surcharge placed on ?unnecessary goods? by President Mej?a?s decree of 16 February. According to P?rez Cuevas, income from Customs fell by RD$60 million during the period. Calder?n stated that while the budget called for an income of RD$23.95 billion, during the first three months real income totaled only RD$23.16 billion. Both P?rez and Calder?n were in agreement that the second quarter would show a marked improvement.