The national budget bill was handed over to Senate president Cristina Lizardo yesterday, Monday 29 September 2014, and Simon Lizardo, Treasury Minister, read out a letter from President Danilo Medina that accompanied the request for RD$630.93 billion.
The President wrote that the budget was calculated taking into account five fundamental issues: responsible management of public funds, supporting the production sector, strengthening public safety programs and continued progress in the transparency of public activities and strengthening institutionalism.
Medina highlighted the fact that the budget included 5% of GDP for pre-university education, the new contributory benefits for health insurance and an increase in the Solidarity welfare program. He said that they would also continue to support the Agriculture Bank (Banco Agricola), Housing Bank (Banco Nacional de la Vivienda), Special Agriculture Development Fund (Feda), Solidarity Bank and the Fundacion Reservas del Pais.
58.9% of revenue is assigned to the public payroll (RD$138.8 billion or 4.6% of GDP), payment of interests on borrowed moneys (RD$88.01 billion, 2.9% of GDP), and the CDEEE electricity subsidy (RD$40.9 billion or 1.4% of GDP), as reported in Diario Libre.
Otherwise, the biggest allotment is to the Ministry of Education (RD$119.3 billion or 4% of GDP).
Cristina Lizardo thanked President Medina for delivering the budget on time, and said that it would be sent to a bi-chamber committee on Wednesday, 1 October 2014 to be studied in detail.
http://www.listindiario.com/la-republica/2014/9/29/339519/Presidenta-Senado-recibe-proyecto-presupuesto-y-dice-el-miercoles-lo
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