President of the Dominican Republic promulgates Complementary Budget Law

Luis Abinader made the announcement this Monday of the measure that aims to mitigate the crisis due to the Covid-19 pandemic

This Monday, September 7, the president of the Dominican Republic Luis Abinader announced economic measures to mitigate the effects of the Covid-19 pandemic in the country. The main decision focuses on the promulgation of the Complementary Budget Law for the rest of 2020 with the aim of mitigating the crisis generated by COVID-19, which amounts to RD $ 202,020,947.339.

According to Abinader’s announcement, the new law modifies the one corresponding to the budget in execution of this year under number 506-19 and “authorizes the Executive Power, through the Ministry of Finance, to increase the financial sources in the current General Budget of the State.”

The decision was taken unanimously after being submitted by the Executive Power to the Chamber of Deputies and then to the Senate of the Republic and the Chamber of Deputies. The president of the Caribbean nation stressed the need for this legislation in the face of a possible drop in nominal Gross Domestic Product (GDP) of -1.6% compared to 2019 and a real drop of -4% compared to 2018.

Abinader also pointed out that the Supplementary Budget for the next months of the current year contemplates “the incentives granted for humanitarian work and the continuation until December of this year of the social assistance programs FASE, Stay at Home and ‘Pa’ Ti’.”

The law plans to increase the allocation of resources to the Ministry of Public Health by RD $ 17,467.7 million in order to implement the plan to face Covid-19, which includes increasing the number of tests, hiring more doctors, increasing the number of hospital beds and intensive care units.

M.Pino

Source: diariolibre

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