The Camera American Trade of the Dominican Republic (AMCHAMDR), held its monthly lunch this Wednesday for the month of September, where the guest speaker and guest of honor was Jochi Vicente, Minister of Finance, who presented perspectives on the context fiscal current situation and the principles that support the proposal of reform fiscal integral that is worked on by the government, in his presentation titled: “Fiscal Situation of the Dominican Republic.”
In his presentation, Vicente explained that, to adequately respond to the demands of the population related to basic services, substantial increases in the spent publicsince the needs of the population have grown and require significant investments to guarantee a decent standard of living and improve the quality of services. However, it is important that these increases in spent public are not financed through indebtedness since this compromises the stability future economic
The minister highlighted that the country has one of the bills public lowest in the region, which restricts the space fiscal necessary to cover the basic needs of the population. To address this, governments have had to go into debt, increasing debt, especially during the COVID-19 response.
The head of the Treasury explained that, given this scenario, it is necessary to increase the resources available so that the State can produce goods and services public that the country demands and stay on the path of sustainability.
He also highlighted that the reform fiscal It would be guided by four key principles: that all sectors of society assume a commitment to the pact fiscal to create the country we want, that the most vulnerable population is protected by the State, tax equity so that all companies compete on equal terms and a frontal attack on evasion and avoidance fiscal with a strengthening of the tax administration.
Vicente assured that the project reform will allow the State to significantly increase the investment in the issues basics of Dominicans. The official indicated that the resources Additional funds raised would be used in key areas such as citizen security, mass transportation and primary health care. Also, investments are contemplated in the electricity sector, strengthening the management of local governments and in the recapitalization of the Central Bank.
“We are taking the necessary step to overcome the obstacles that have slowed our developmentand that will now allow us to make the necessary investments for a safer, fairer, healthier Dominican Republic with greater access to opportunities,” he expressed at the end of his participation.
For his part, the president of AMCHAMDR, Edwin De los Santos, said: “AMCHAMDR deeply values the intervention of the Minister Vicentewho has presented an exhaustive analysis of the situation fiscal of the country. His presentation today gives us a better perspective on the challenges and opportunities of the Dominican Republic in economic matters, highlighting the importance of a comprehensive Tax Reform that promotes development economic and social. We appreciate the willingness to constructive and participatory dialogue always shown by the Dominican authorities, as evidenced by the important presentation presented this afternoon by Minister José Manuel Vicente before the national business community.”
