Two much debt, too soon
The president of the National Business Council (Conep) has expressed his concern about the DR government’s rapid rate of indebtedness. Lisandro Macarrulla says that the government handling of the electricity sector is one of the reasons for taking on more debt. He mentioned the subsidy of more than US$1 billion, which in great measure was financed by taking on more debt through the PetroCaribe agreement with Venezuela. Then we believe that is an irresponsible way of dealing with the electricity deficit, he said during an interview on Channel 9’s Lideres program. Macarrulla also said that the escalation of the price of fuel to almost US$200 a barrel also explains the increase in indebtedness.
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Macarrulla said that the authorities are giving contradictory signs when it comes to public spending. On the one hand they have an austerity policy, but on the other there is lots of wasteful spending. Recently we [...]
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