Economist Ernesto Selman called for the passing of a Fiscal Responsibility Bill to put a halt to unbridled borrowing by the government. The executive vice president of the Centro Regional de Estrategias Economicas Sostenibles (CREES), an economic think tank, highlighted that in the 90s, the public debt of the Non Financial Public Sector had dropped 27.9%. But from 2000 to April 2014, the government has increased the debt 639%. The debt is now at US$23.97 billion. Selman said prudent fiscal policies call instead for the government to not spend more than it receives. He calculated that government spending has increased six times when compared to 1990.
Another economist, Luis Loria urged the government pass the Fiscal Responsibility Bill that would include rules to regulate government spending and borrowing.
The Dominican Republic is ranked tops in wasteful spending in the world by the World Economic Forum Global Competitiveness Report 2014.
http://www.diariolibre.com/economia/2014/07/17/i704131_crees-afirma-que-deuda-pblica-crece-639-desde-2000.html