Government deposits in Congress a Fiscal Responsibility Bill

DOMINICAN REPUBLIC - In Brief 02 Jun 2023 by Magdalena Lizardo
Yesterday, the Ministry of Finance, on behalf of the Executive Power, deposited in the National Congress a Fiscal Responsibility Bill. The bill seeks to guarantee the sustainability of public finances. The fiscal rule states that annual primary spending growth rate must not exceed the expected inflation rate plus 3 percentage points, so that the public debt does not exceed 40% of GDP at the end of the fiscal year of 2035. In case of extreme events, the bill establishes exception clauses, in order to safeguard the overall stability of the country.

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