2006News

Senate passes budget bill

The Senate approved the 2006 National Budget and Public Expense Bill in two consecutive readings yesterday. The budget, which amounts to RD$239 billion, now has to be signed into law by President Leonel Fernandez. He has three days to do so. El Caribe reports that in the first round the vote was 17 out of 21 in favor of the approval of the bill. In the second round the vote was 16 out of 20. A number of senators strongly criticized allocations for the construction of the metro and the 13% transitory tariff on the CIF value of imports that will replace the irregular exchange commission. Some lawmakers claimed they were voting in favor of the bill to avoid leaving the government without a new budget, which would allow the discretional use of funds that were not specifically allocated.