The government and the International Monetary Fund have reached an agreement on their positions on the 2008 budget. A major part of the agreement was to increase the funding of subsidies (propane and electricity) to RD$26.0 billion pesos. According to the Minister of Hacienda, Vincente Bengoa, the IMF disagreed with the appropriations that the government had assigned to the LPG subsidy (RD$2.4 billion) and to the electricity sector (RD$15.0 billion). The parties agreed to the increase to RD$26 billion. The government will also see a 1.3% of GDP surplus, equivalent to RD$19 or RD$20 billion. Originally, the IMF was demanding a surplus of RD$30 billion for 2008. According to Bengoa, the 2008 budget will hover around the RD$300 billion mark, about RD$50 billion more than last year.<\/p>\n","protected":false},"excerpt":{"rendered":"
The government and the International Monetary Fund have reached an agreement on their positions on the 2008 budget. A major part of the agreement was to increase the funding of subsidies (propane and electricity) to RD$26.0 billion pesos. According to the Minister of Hacienda, Vincente Bengoa, the IMF disagreed with the appropriations that the government … <\/p>\n