The Dominican College of Economists (Codeco) suggested the review of the program that served as a reference framework to prepare the 2022 Budget, in accordance with the changes registered in the economy in the first half of 2022.
He says that based on the new projections, before the end of August they must present a revised budget to the National Congress, considering indicators such as the increase in income above what was programmed.
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In addition, Codeco, which chairs Jose Alonzo Montilla Linare, cites the increases in expenses for subsidies that were not foreseen; average inflation much higher than estimated, the fiscal deficit above the 3% target, and the drop in the estimated growth of the economy from 5.5% to 5%.
Also, increases in the monetary policy rate and its impact on credit and consumption, rise in the average price of oil, changes in the price of gold, nickel and coal; falling GDP, high inflation in the United States and the exchange rate.
“The indicators until June 2022 have changed compared to what was planned in 2021 to prepare the Budget,” said the union.
