Where Has All the Spending Gone?

DOMINICAN REPUBLIC - Report 17 Dec 2013 by Pavel Isa Contreras and Fabricio Gomez
Executive SummaryPublic investment spending is dragging once again, with probable negative implications for demand, employment and growth. And the 2013 budget deficit is likely to be smaller than expected, though tax revenues are also below target. Tax revenues have been persistently falling short. For the first nine months of the year, taxes fell short by DOP 7 billion; the accumulated gap may reach DOP 8.3 billion in December. That would bring revenues for the first 10 months of the year to DOP 302.6 billion, or 78% of projected budget revenues.But anemic spending is the key fiscal issue:...

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