Budget statistics show an extraordinary recovery in government tax revenues this year, says Nelson Suárez
Between January 1 and December 3 of this year, the tax collections of the Central Government registered a significant increase of 37.1%, which represents a total RD $ 208,821.1 million collected more than in the same period of last year, said the economist Nelson yesterday. Suarez.
He specified that the aforementioned amount is equivalent to 3.92% of the country’s gross domestic product (GDP) compared to the same period in 2020.
He expressed that as it has been happening until November, the behavior recorded by collections has as a counterpart a drop in general spending of -4.56%, equivalent to RD $ 38,559.0 million of expenses less than last year, mainly explained by the behavior of public investment that despite its revitalization since September, it was reduced by RD $ 26,609.1 million.
He explained that capital expenditures were boosted, although they are still below last year by 26.7%.
He considered that the statistics contained in the Weekly Budget Execution Report of the General Budget Directorate (Digepres) as of December 3 show an extraordinary recovery of government tax revenues, which in 2020 suffered a fall of 10.1%, amounting to RD $ 61,493.1 million less compared to 2019 and 18.9%, RD $ 129,085.4 million less than the estimate for all of 2020.
As has been happening month after month, the revenues that show the greatest dynamism until November are ITBIS, income tax (ISR), property taxes and foreign trade ”, he said.
Regarding expenditures, he indicated that the main falls were registered in current transfers, construction in progress, gross fixed capital formation, and capital transfers.
Among the expenses that show an increase, the interests of the public debt stand out with RD $ 15,146.7 million, 12.18% more than in the same period of 2020, he said.
It explains that the fiscal deficit as of December 3, 2021 registers a balance of -RD $ 34,922.9 million (-0.66% of GDP) compared to a gap of -RD $ 282,303.0 million in 2020 equivalent to -6.33% of GDP.
He stated that the fiscal deficit fell in the indicated period by 87.63% and 4.64% of GDP. He indicated that as of December 3, 2021, the government had received RD $ 192,473.3 million for internal and external loans, registering a drop of 65.48% compared to 2020, which represents RD $ 365,075.4 million less.
Execution of expenditures
by financial applications
Execution of expenditures
Interviewed by Hoy, the economist Nelson Suárez stated that the government of Luis Abinader has made expenditures for financial applications during the 48 weeks between January 1 and November 3, 2021 for a total RD $ 80,274.6 million, 45.82% less than in in 2020, which represents a saving of 67,897.4 million for this concept.