2004News

Expenses eat up 72% of income

In its first two months in office, the PLD government had to spend RD$14.07 billion of a total income of RD$19.55 billion just to pay expenses, providing just an example of what the government is facing. Capital expenditures represented RD$3.62 billion, or 18% of official revenues, while financial services consumed over half of that, or RD$2.1 billion. The long-awaited resumption of the IMF Stand By Agreement will set limits on public expenditures and external debts in order to return the country to financial solvency. El Caribe notes that the public payroll shot up by RD$91 million from September to October, and that supply purchases also grew by RD$45 million. Non-personal services, such as water, lights and telephone service, went down by RD$27 million