The economist Nelson Suarez stated yesterday that the statistics records on the budget execution of the General Budget Directorate (Digepres) show capital expenditures of RD$180,291.2 million in 2023, RD$186,661.6 million in 2024 and RD$92,050.9 million in the first 8 months of 2025.
He specified that the proportion of these levels of capital expenditures in relation to the gross domestic product (GDP) is equivalent to 2.67% in 2023, 2.52% in 2024 and 1.57% in the period January-August 2025.
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He clarified, however, that the capital expenditure indicated includes, in addition to the part that constitutes the Gross Investment in Non-Financial Assetsthe capital transfers that the Central Government makes to decentralized organizations and public companies which, for the indicated years, was RD$71,368.3 million in 2023, RD$76,226.5 million in 2024 and RD$34,321.4 million in January-August 2025, which are equivalent to 1.06%, 1.03% and 0.58% of GDP, respectively.
It points out that, in specific terms, the Gross Investment in Non-Financial Assets in the years 2023-August 2025 recorded by DIGEPRES shows the following behavior: RD$108,922.8 million in 2023, 1.61% of GDP, RD$110,435.1 million in 2024, 1.49% of GDP and RD$57,729.5 million January-August 2025, which is equivalent to 0.98% of the projected GDP as of September 2025.
It highlights that the records on Gross Investment in Non-Financial Assets (IBF) and Capital Expenditure contained in the monthly flows of the Central Government’s Statement of Operations show important differences with those of the Digepres.
According to the Central Bank, the IBF in 2023 was RD$145,631.4 million, in 2024 it was RD$136,809.7 million and for the period January-August 2025 it amounted to RD$81,663.5 million, which in percentage terms are respectively equivalent to 2.15%, 1.85% and 1.39% of the GDP.
He specified that there are important differences between the figures of the Central Bank and those of DIGEPRES in all items of capital expenditure and those of IBF. In 2023 the Bank records 33.7% more in IBF expenses than DIGEPRES (RD$36,08.6 million), for 2024 23.9% more (RD$26,374.7 million) and for 2025 41.5% higher, which is equivalent to RD$23,934.0 million higher.
He explains that these differences make it very complex to have a realistic vision of the state of the IBF and the capital expenditure of the Central Government and the Non-Financial Public Sector, which is why he called attention to the fact that Digepres and the Central Bank unify the criteria and methodology on these essential statistics to evaluate the economic impact of public activity on the economy.
