2008 – Page 66

According to the Quisqueya Foundation the deficit on the nation’s current accounts will increase by 150% by the end of the year. The deficit was 5.4% in 2007, will register 13.5% in 2008 and will be 12.4% in 2009. According to economists Frank Valenzuela and Hector Frias, theIMF estimates that the Dominican economy will decelerate …

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Considering the financial crisis the word is facing, Inter-American Development Bank representative Manuel Labrado is urging the government to tighten its belt as a short-term response to the crisis. Labrado says first on the agenda should be to prioritize spending, focus subsidies, improve the investment climate and support the agricultural sector, which has great potential …

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Spanish economist Jesus Ruiz-Huertas Carbonell says that if the Dominican economy is dependent on remittances, tourism, free trade zones and exports it is almost impossible to shield the DR’s economy from the financial crisis affecting the rest of the world. The economist says he has limited details knowledge of the Dominican economy, but adds that …

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The Treasury says it will retain the salaries of employees who have yet to submit an asset declaration. Treasury director Guaroa Guzman says he will follow Law 82-79 and with the help of National Department for the Persecution of Corruption determine which employees have yet to file. Guzman said the only problem is that specific …

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Environmental Minister Jaime David Fernandez says that sand extraction companies closed earlier this week for violating environmental regulations will not be allowed to re-open or have extensions. However, they will be allowed to remove the accumulated processed materials found in their factories on condition that they dismantle their equipment. The Minister says the factories will …

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The National Business Council (CONEP) is asking Congress to ratify the free trade agreement with the European Union, the European Partnership Agreement (EPA) before 31 October. Conep president Lisandro Macarulla said that failing to ratify the agreement would create a negative atmosphere for the country’s competitiveness, reduce revenue and endanger job security for strategic sectors …

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Rolling blackouts are still being reported throughout the DR, despite the fact that new generators have come in to try and ease the situation. Hoy reports a deficit of 928 MW compared to a demand of 1,884 MW. The State-run Electricity Companies (CDEEE) paid US$20 million to the energy distributors, bringing the government’s total debt …

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The 72-hour protest that began on Tuesday has officially ended. The protests were organized by the Alternative Social Forum and called for the government to provide citizens in the region with basic services, improved power supply and lower food prices, among other demands. Yesterday, as part of a general work stoppage, protestors marched through sectors …

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The sex trade is third behind drug trafficking and the arms trade as most profitable illegal crime activity. Although the DR has tried to monitor this there are no government policies, or sufficient funds, to help fight the growth of this industry. In an attempt to achieve this, German development agency GTZ is to fund …

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Listin Diario is reporting that the Villa Altagracia municipality hired five more councilors than is allowed according to Law 3455, as well as Article 2 of the Constitution, Article 21 of municipal law and articles 32,47,48 and 52 of the Chamber of Accounts law. Also, the city hall had to pay out RD$1.6 million more …

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