In the long-awaited address to the country, President Luis Abinader announced that he will not submit a tax reform to Congress or increase taxes. He indicated that the only priority at this time is to consolidate the economic recovery and continue betting on growth and investment.
The Government will focus on reducing expenses, concentrating only on what is necessary, and recovering the funds stolen from the public patrimony. The President indicated that during this year he has reduced expenses in items that do not directly affect the welfare of the population, in the order of RDO27,000 million (about USD480 m).
President Abinader pointed out that you cannot swim against the current and he has listened to the people. He is aware that no more sacrifice can be asked of the population at a time of exponential growth in oil international prices, basic food products and raw materials for fertilizers.
In his speech, President Abinader did not indicate whether the fiscal reform would be debated later in the space of the Economic and Social Council.
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