Hacienda Minister Donald Guerrero defended the complementary national budget presented for approval to the Chamber of Deputies, arguing that revenue collections this year are down and spending is up. Guerrero said that revenues are RD$15 billion less than estimated and government spending has increased by RD$10 billion. He explained to the Chamber of Deputies special committee that is analyzing the request for approval of a complementary budget proposal. The Senate has approved the supplementary budget proposal.
Guerrero said that the increase in expenditures is due to the rise in minimum wages and pensions in the public sector. He said it also recognizes debts incurred by the government-owned electricity distribution companies (EDEs) at very high rates and short-term conditions. The finance officer said that the reformulation of the budget would enable the negotiating of the financing of the EDEs to lower rates and longer terms.
During his visit to Congress, Guerrero was accompanied by Luis Reyes, deputy minister and director of National Budget, Patrimony and Accounting.
The special committee is head by legislator Ramón Cabrera.
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Listin Diario
20 November 2019