2012News

Think tank says budget overestimates income by 5%

The Regional Center for Sustainable Economic Strategies (CREES) said that the overall income forecast in the National Budget for 2013 contains an overestimate approaching 5%, according to an article in Listin Diario. Their “General Analysis of the 2013 Budget” states that the government income estimates for next year are more than the money that will be collected, as was the case in 2012. The 2012 budget forecast income of RD$351.7 billion, but collections only generated RD$320.9 billion. The estimated figures for 2013 are similar to the previous year, except for donations that are estimated to be in the order of RD$4.95 billion. CREES believes that a more reliable figure might be closer to RD$2.2 billion. In overall numbers the analysts at CREES are calculating that the total income for 2013 will reach RD$366.5 billion, about RD$18 billion less than the government estimates. In rounded-off numbers the Center concludes that tax income is overestimated by some RD$10 billion, non-tax income by RD$6 billion and donations by some RD$1.5 billion.