2007News

Debt and power eat up budget

Economic, Planning and Development Minister Temistocles Montas has revealed that the external debt and the subsidy for the energy sector will take up RD$91 billion of the 2008 budget. The energy sector alone has an RD$21 billion subsidy. Montas added that at the end of this four-year presidential period a total of RD$110 billion will have been designated to the energy and liquid gas (GLP) subsidies. The minister said that the serious problems plaguing the energy sector have required an RD$15 billion subsidy in the last three years, and that all sectors need to pull together to solve them.