President Promulgates Supplementary Budget

The Executive Branch promulgated the Supplementary Budget that modifies approved spending in the Income Budget and the government’s 2008 Public Spending Law, raising the amount to RD$31,340 million pesos.

The new budget supplement will affect the president’s office, various ministries, the central elections office and other state institutions.

This additional amount in the Supplementary Budget, RD$10,290 million pesos, $700,000 is earmarked for the government’s 2008 operating budget, according to the Presidential Office of Information, Press and Publicity.    

The remaining RD$31,049,300 pesos will be used to increase government spending appropriations for the 2008 budget.     

With these resources made available by the Supplementary Budget, publicized by President Leonel Fernández, the government will better be able to confront the high prices of oil, food and other natural resources on the international market as well as confront the effects of the financial crisis of the United States that is affecting the Dominican Republic .

In addition, the amount approved will be utilized to alleviate the effect that subsidies are having on different areas of the Dominican economy.

The new budget supplement will affect the president’s office, various ministries, the central elections office and other state institutions.