The Dominican Republic is one of three Latin American countries that have failed to meet the minimum requirements for fiscal transparency for the latest year assessed, according to the US Department of State “2014 Fiscal Transparency Report”. The others are Haiti and Nicaragua.
This report describes the minimum requirements for fiscal transparency developed by the Department of State in consultation with other relevant federal agencies, identifies governments that are potential beneficiaries of FY 2014 foreign assistance funds, assesses those that did not meet the minimum fiscal transparency requirements, and indicates whether those governments have made significant progress towards meeting the requirements.
The United States stresses that fiscal transparency is a critical element of effective public financial management, which helps build market confidence and sets the stage for economic sustainability. It drives the point that citizens of each country should care about transparency as it also provides a window into government budgets for citizens of any country, helping them to hold their leadership accountable.
In its section on the Dominican Republic, the report states:
“The Dominican Republic’s budget lacks detail for large portions of spending by the Office of the Presidency, which accounts for 9% of central government expenditure. Autonomous and decentralized institutions, and even some ministries, do not fully report revenue and expenditures during budget implementation, but only at the end of the accounting year. The Dominican Republic’s fiscal transparency would be enhanced by taking additional steps to improve the completeness and timeliness of its budget, particularly for the Office of the Presidency.”
http://www.state.gov/e/eb/ifd/oma/235938.htm