Minister of Economy, Planning and Development (MEPyD) Isidro Santana, during a recent speech, acknowledged the rising public debt in the Dominican Republic. In his talk, entitled, “Challenges for the Sustainability of the Dominican Economy” during the International Congress on Finances and Auditing (CIFA 2017) sponsored from 20-23 July by the Dominican Association of Commercial Banks (ABA), Santana said that the debt is at 38.3% of the GDP and the government intends to keep it at that level. “We are not presenting any risk situation, but it would be irresponsible if I as Minister of Economy said that that level of indebtedness is not of concern,” he stated.
He observed that there is a growing conviction that political governance and macroeconomic stability will depend on a new negotiated fiscal pact within the different sectors of the country. Santana said the government will need to communicate to citizens the importance of efficient and rational management of resources. He said the forthcoming fiscal pact needs to guarantee the financial sustainability of the government, bring forth a clear idea of simplifying the tax system, and propose a rational system for incentives with a focus on sustainable development.
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Listin Diario
25 July 2017
