Santo Domingo.-After the withdrawal of the Fiscal Modernization Law project, which sought to raise RD$122 billion, President Luis Abinader explained yesterday that the Government has begun to make budget adjustments, also clarifying that he does not have a new proposal.
The president noted that “we have had to govern in the last four years in very difficult circumstances. Over nearly two years, the pandemic reduced revenue by about 35% and increased expenses by more than 20%. However, we got through the pandemic well and the economy responded positively.
Regarding the level of debt of the non-financial public sector, when we took office, it represented 49% of the Gross Domestic Product (GDP), and today it is 46%, that is, 3% less.
Likewise, he emphasized: “We are going to make the necessary adjustments and we have no other proposal.”
Regarding these adjustments, Abinader mentioned that they will continue to apply the Fiscal Responsibility Law. He also indicated that they will have to return to the original budget, adding: “The people spoke, we will make adjustments. We have to complete the unfinished works, but we must also be careful to maintain a controlled debt level. “The country will continue to grow, as I mentioned, and we will see great investments.”
Regarding tax evasion, the President assured that the General Directorate of Internal Taxes (DGII) takes forceful measures every day, ranging from the closure of establishments to judicial and criminal proceedings against evaders.
«We are moving forward. We have implemented the electronic billing law, which is already being applied in several businesses.
“Those who collect the ITBIS and do not pay it are robbing the State,” he declared. In addition, he highlighted that actions are being taken to make the electronic billing law more efficient and guarantee correct collection.
Exports grow
During his participation in LA Semanal con la Prensa, the head of state spoke about the growth of national exports and the export promotion policies implemented, allowing the creation of the first export plan in the history of the country and recording four years of record figures.
He explained that in the last four years the General Customs Law was modernized to support trade facilitation, the first trade promotion plan was implemented with MIREX, the impediment of products such as pitahaya, meat, sweet potato and coconut was lifted, international markets, 615 economic operators were authorized, the single investment window was created and gender equality is promoted in export promotion.
The President
— Goes to Congress
Although the time is unknown, President Abinader announced that he will go to the National Congress on Sunday to sign the Reform of the Constitution, when it will be read and proclaimed.
