Macro figures of the 2016 budget bill: a carbon copy of 2015; deficit of NFPS set at 2.3% of GDP
Yesterday, the government submitted to Congress the budget bill for 2016. The bill set total expenditures and financial applications at DOP 663.6 bn, equivalent to 20.1% of GDP. Primary expenditure is estimated at 17.1% of GDP, 0.4% less than the level set in the 2015 budget Authorities forecast an increase of 7.7% in tax revenues compared to 2015 and a 7.0% increase in expenditures. The deficit of the Non-Financial Public Sector (NFPS) is projected at DOP 75.9 bn or 2.3% of GDP, just 0.1% lower than in 2015. Financial sources are estimated at DOP 173.3 bn (USD 3.67 bn), slightly below the level approved in the budget for the current year. 2.5 bn will be from external sources (68%) and USD 1.17 bn (32%) from internal sources. Half of external financing will come from global bonds, and 37% from budget support loans from bilateral and multilateral sources. Financial applications are estimated at DOP 97.4 bn (USD 2.1 bn). More details will be provided in our next monthly report.