Spending Less, to Pay More Debt

DOMINICAN REPUBLIC - Report 17 Oct 2014 by Pavel Isa Contreras and Fabricio Gomez
Executive Summary The proposed federal budget for 2015 is more restrictive than last year’s: though spending would rise 2.9%, primary spending is projected to fall, both in real and GDP terms, as the government aims to slice the non-financial public sector deficit, cut public investment spending and pay more debt. The 2015 NFPS deficit target is DOP 73.9 billion, or 2.4% of GDP, 0.4% lower than the 2014 goal. Financing needs for 2015 are DOP 175.5 billion ($3.815 billion); or DOP 13.8 billion ($313 million) less than in 2014. This means that financial sources will comprise 5.8% of GDP, or 1...

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