2003News

Government does not pay up

The economic section of today?s Hoy newspaper says that the Dominican government owes RD$3 billion in tax revenues collected but not turned over to the Central Bank. Pedro Silverio, head of the Cenantillas economic research center at the PUCMM university, says that this money is the product of taxes created under the Law for Hydrocarbons and is supposed to be turned over to the Central Bank to pay foreign debt. According to the economic watchdog, the government sent RD$800 million to the Central Bank in January but has not remitted a penny since. According to a published bulletin from the National Budget Office, the Hydrocarbon Law produced RD$3.89 billion that was destined, according to Law 112-00, to a special fund called ?Dominican Government Account to pay the Foreign Debt?.