The Government went through the first month of the year without the need for debt leverage and closed that stretch of the fiscal period with revenue coverage 5.6 percent higher than accrued expenses.
Between January 1 and February 4 in progress, the account classified as “Financial Sources”, which records the financing that supports the General State Budget (PGE), appears at zero. By 2022, the Government is projected to receive RD$284,079.4 million for this concept, which is equivalent to 32.59% of the total projected income for the full year, about RD$871,485.9 million.
In the period of the cut, the income received by the Government amounted to RD$90,410.2 million, an amount that represents 10.37 percent of the value budgeted for 2022. The expenses for the same period amounted to RD$85,642.8 million, with an equivalence of 8.18 percent. percent of the projected expenses for the full year.
The bulk of the income recorded from January 1 to February 4 corresponded to the category classified as current income, with RD$90,347.5 million. Capital income amounted to RD$62.7 million.
For this year, the Government expects to capture RD$46,576.6 million for this concept, an amount that represents a little more than half of what the Government presented in the original 2021 Budget, but which it had to modify in the complementary budget project, due to that for the first semester not even 10 percent of the estimate had been executed. The reduced amount was also not met.
Capital expenditures, which during the first two quarters of 2021 remained slow, started 2022 more quickly.
Between January 1 and February 4, they registered a balance of RD$3,763.0 million. For the entire period, the Government expects to execute a level of capital expenditures amounting to RD$140,706.4 million, which would represent 13.44 percent of the total expenditure contemplated in the 2022 PGE Law.
debt payments
On the expense side, of the amount executed, RD$32,790.7 million corresponded to interest payments on the public debt, with a weight of 38.28 percent of the total expense of the analyzed period. For the year 2022, the estimated amount to pay interest on the debt is RD$193,105.8 million. As of February 4, 16.98 percent of the budgeted amount to be paid as cost of the public debt had already been executed. The current expenses incurred totaled RD$81,879.8 million, at the referred cut.
The execution registers, on the side of the financial applications, which are the ones that register the amortizations of the public debt, a balance of RD$10,177.0 million, a figure that represents approximately 10 percent of the estimated amount for the entire 2022, which is RD$109,284.6 million. In the part of the budget related to expenses, payments have fixed dates to be registered and made, while for income it depends on the moment in which the loan is disbursed or the bonds are placed, in the case of the issuance of securities by the Condition.
Result
Between January 1 and February 4, the Government’s fiscal operations reflected a current result of RD$8,467.7 million in surplus, widely contrasting with the projections consigned in the PGE 2022, which pose a deficit of RD$80,665.0 million. The primary result, which excludes debt interest payments, had a positive balance of RD$37,558.1 million, compared to a projection for the entire period of RD$18,311.0 million, also in surplus.
