Minister of Hacienda Jochi Vicente and National Budget General Director Jose Rijo Presbot submitted to the Chamber of Deputies a complementary budget bill for RD$17.2 billion to mitigate the crisis generated by the Covid-19 virus. The bill is accompanied by an explanatory letter from President Luis Abinader addressed to Alfredo Pacheco, president of the Chamber of Deputies. The letter states that a decrease of GDP of 4% is expected in comparison to the previous year.
The complementary budget contemplates resources to mitigate the health crisis, incentives granted for humanitarian work and the covering of relief programs, Phase (Fase), Stay at Home (Quedate en Casa) and For You (Pa’Ti) through December 2020. RD$5 billion will be used to capitalize the Agriculture Bank (Banco Agrícola) for financing of zero interest rate loans to farmers.
The ruling Modern Revolutionary Party (PRM) is majority in both houses in Congress.
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Listin Diario
25 August 2020