2008 – Page 196

Paino Abreu Collado, the administrator of the Agriculture Bank, told reporters that his institution had made loans worth more than RD$600 million to finance greenhouses in several parts of the country. Of a total of RD$623.2 million, RD$490 million have gone to build the greenhouses and RD$133 million to finance the crops. Areas such as …

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The national debt climbed by 3.3% during the first quarter of 2008, according to figures from the Ministry of Hacienda. The absolute increase equaled US$280 million. The national debt amounts to 20.8% of the GDP for 2008 and is made up of US$7.757 billion in non-financial public sector debt and US$1.091 billion in debt from …

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The National Council for the Promotion and Support of Micro and Medium-scale Business (Promipyme) finances RD$140 million each month. The figures were given to Diario Libre reporters by the executive director, Juan Rodriguez Melendez, after a meeting between sector representatives and President Fernandez in the Presidential Palace in Santo Domingo. Rodriguez Melendez said that he …

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The Value Added Tax on fuels in the Dominican Republic is a progressive tax, meaning that as prices rise, the consumer pays more and more in tax money. During the first four months of the year, consumers paid 50% more compared to the same period last year, 2007. The VAT tax is different from a …

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The Senate has sent a bill proposing complete tax-free status for industrial free zone industries to its Permanent Commission on Industry and Commerce and Free Zones for further study. The bill, which was sent to Congress by President Fernandez, seeks to increase the competitiveness of Dominican free zone industries. It proposes 100% relief from income …

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As the Chamber of Accounts members came under hard questioning by a legislative commission, some rather serious situations came to light. According to El Nuevo Diario, the revelations could lead to the dismissal of members of the state auditing body. The crisis came to a head when seven of the auditors accused the chief magistrate …

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The United States State Department advisory on safety issues for tourists visiting the Dominican Republic has caused a predictable reaction from public and private quarters. From the head of the Tourism Police (Politur), to the chief justice of the Supreme Court, Dominicans have rejected most of what the State Department said as an “exaggeration” and …

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Millions of pesos were apparently taken from a safe in the house of the financial director of the Ministry of Public Health, according to the official himself. Contacted by investigative journalists Nuria Piera and Huchi Lora on their morning radio program, the official, Miguel Espinal, said that he did not know how much had been …

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The stories continue to roll in on the rising cost of all types of construction. Today’s Hoy reports that engineers and businessmen from the sector are requesting a meeting with the Minister of Industry and Commerce and the Superintendent of Banking. As construction is considered to be a major player in the Dominican economic process, …

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The French navy supply-type vessel “Francis Garnier” is in port at Santo Domingo on a courtesy visit. The ship, which is based in Martinique, makes regular visits to the islands of the Caribbean, and supplies needed relief assistance in times of disaster. The Garnier was built in 1971 as a military supply vessel, capable of …

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