NFPS deficit for 2015 right on target (2.4% of GDP). Central Bank says different

DOMINICAN REPUBLIC - In Brief 14 Mar 2016 by Pavel Isa
The Ministry of Finance has finally released the figures of fiscal year 2015. The data set the NFPS deficit at DOP 72.7 bn. This is equivalent to 2.38% of GDP, right at the level that was set as a target for 2015 by the budget law. Our estimates pointed to a slightly higher deficit due to weak revenues from taxes on fuels and to the reduction in revenue from Barrick-Pueblo Viejo project associated with the decline in gold prices. However, in its Preliminary Report on the Dominican Economy 2015, the Central Bank estimated the NFPS deficit at DOP 89.7 bn or 2.9% of GDP. Official figures are provided by the Ministry of Finance but the contradiction between the two raises doubts and reduces the credibility of official estimates.

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