Revenue drops 14.5% to US$48.2B in first half
Santo Domingo.- The COVID-19 pandemic continues to hit the finances of the Dominican State. In the first half of 2020, collections fell by 14.5%, a collapse that could have been worse had it not been for the revenue received by the National Treasury.
The State collected RD$284.7 billion (US$48.2 billion) during the first half of the year, lower than the RD$332.9 billion it received in the same period of 2019, a drop of RD$48.2 billion) during the first half of the year, lower than the RD$332.9 billion it received in the same period of 2019, a drop of RD$48.2 billion.
State revenues via Customs were the most affected. Between January and June last, the institution’s collections fell by 20%, compared to the same period in 2019.
From registering collections of RD$67.3 billion in the first half of last year, Customs revenues in the first six months of 2020 totaled RD$53.9 billion, a net fall of RD$13.5 billion.
Similarly, the income of Internal Taxes (DGII) suffered a reduction of 18.3%. Between January and June 2020, the collection entity stopped lost out on RD$45.1 billion, when compared to the first half of the previous year.
The institution had revenues of RD$201.2 billion between January and June of this year, lower than RD$246.3 billion in the same period of 2019.