​Central Government deficit ends at 2.7% of GDP in 2021

DOMINICAN REPUBLIC - In Brief 20 Jan 2022 by Magdalena Lizardo
The Ministry of Finance reported that the Central Government deficit was 2.7% of GDP in 2021, lower than the 3.0% originally contemplated in the 2021 Public Budget approved in 2020. This reduction is due to an significant increase in tax revenues, 12.7 % higher than initially planned. Although spending was also higher than originally budgeted, the increase was 10.6%, less than the increase in revenue. The financing need in 2021 ended up being 87.4% of what was originally forecast. This situation, together with significant GDP growth, allowed the NFPS debt to be reduced from 56.6% of GDP in 2020 to 51.1% in 2021.

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