A Public Budget Bill for 2022 without fiscal reform and a deficit of 3% of GDP
The Council of Minister approved yesterday that the General Public Sector Budget Bill for 2022 will have a deficit of 3% of GDP. The amount of income is projected in DOP871 b. and the total expenses and financial applications would amount to DOP1,046 b. The financing need would amount to DOP175 b, equivalent to USD2.89 b. if the official projection of the exchange rate for 2022 of DOP60.43 per USD is used. Compared with the 2021 budget amendment, the 2022 General Public Sector Budget Bill represents an increase in revenues in DOP105 b. and a reduction in expenses and financial applications of DOP28 b. The Government has chosen to formulate a budget bill assuming the current tax structure. The fiscal reform remains to be defined within the framework of the national dialogue that took place in the Economic and Social Council. It will be next September 30 that more details about the Budget Bill will be known when it is sent to the National Congress.